Hillenbrand Inc
Buy, Hold or Sell?

Let's analyse Hillenbrand together

Penke I guess you are interested in Hillenbrand Inc. Buy, hold or sell? I don't know! However, I do recommend doing research before doing anything. I will help you with that.

I'm going to help you getting a better view of Hillenbrand Inc. At the end you don't have to ask anyone for trading advice. You can make your own decision, with more confidence, the odds in your favor, backed by data.

You can find me behind Let's Analyse Together in the top-right of each section.

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Quick analysis of Hillenbrand (30 sec.)

What can you expect buying and holding a share of Hillenbrand? (30 sec.)

How much money do you get?

$0.88

When do you have the money?

1 year

How often do you get paid?

100.0%

What is your share worth?

Current worth

$24.38

Expected worth in 1 year

$31.76

How sure are you?

75.0%

+ What do you gain per year?

Total Gains per Share

$8.26

Return On Investment

17.2%

For what price can you sell your share?

Current Price per Share

$48.02

Expected price per share

$44.05 - $52.53

How sure are you?

50%

1. Valuation of Hillenbrand (5 min.)

Live pricePrice per Share (EOD)

$48.02

Book Value per Share

$24.38

Intrinsic Value Per Share

$-40.03 - $7.63

Total Value Per Share

$-15.65 - $32.01

My calculation of the intrinsic value of Hillenbrand is based how much money is coming from the company's main activities (Free Cash Flow).

The following numbers are based on moving averages and per share and per quarter.
I use a 6% discount rate for the low estimation and 3% for the high estimation.
The current Free Cash Flow Per Share is 10Y: ($0.71) 3Y: ($0.75) TTM: ($0.43)
The change per quarter (trend) of the Free Cash Flow Per Share is 10Y: ($-0.03) 3Y: ($-0.11) TTM: ($-0.05)

Years	Total Low est.	Total High est.	Added Free Cash Flow
1	$1.69	$2.69	$1.08 - $2.58
2	$1.68	$4.89	$-0.67 - $2.14
3	$0.17	$6.62	$-2.43 - $1.70
4	$-2.68	$7.91	$-4.19 - $1.27
5	$-6.72	$8.77	$-5.95 - $0.83
6	$-11.79	$9.25	$-7.71 - $0.40
7	$-17.77	$9.35	$-9.47 - $-0.04
8	$-24.55	$9.10	$-11.23 - $-0.48
9	$-32.00	$8.52	$-12.98 - $-0.91
10	$-40.03	$7.63	$-14.74 - $-1.35

2. Growth of Hillenbrand (5 min.)

Is Hillenbrand growing?

	Current year	Previous year	Grow	Grow %
How rich?	$1.7b	$1.1b	$501.3m	29.8%

How much money is Hillenbrand making?

	Current year	Previous year	Grow	Grow %
Making money	$25.7m	$46.6m	-$20.9m	-81.6%
Net Profit Margin	3.5%	6.4%	-	-

How much money comes from the company's main activities?

Quarterly Yearly

3. Financial Health of Hillenbrand (5 min.)

4. Comparing to competitors in the Specialty Industrial Machinery industry (5 min.)

Industry Rankings (Specialty Industrial Machinery)

Richest
#84 / 739

Most Revenue
#139 / 739

Most Profit
#217 / 739

Most Efficient
#444 / 739

What can you expect buying and holding a share of Hillenbrand? (5 min.)

Welcome investor! Hillenbrand's management wants to use your money to grow the business. In return you get a share of Hillenbrand.

What can you expect buying and holding a share of Hillenbrand?

First you should know what it really means to hold a share of Hillenbrand. And how you can make/lose money.

Speculation

The Price per Share of Hillenbrand is $48.02. The market price reflects what other people think it is worth; not what it's really worth. Your job is to find out if the market price is fair, overpriced, or underpriced. I will help you with that.

If you buy blind, there is a 50% chance of making or losing money by selling the stock in the future. However, we can look at a few things to determine the odds in our favor:

The fundamentals: the financial health trends of Hillenbrand.
The technials: based on market psychology, we can make a calculated estimate of what the price will do in the future. We can do this through technical analysis. We can calculate the probabilities and the expected value (millionaire math). That's called speculation.
The book value: what is the market price compared to it's book value.

Investing

If you really want to invest in Hillenbrand, you will have to let go of the thought of selling in the future. If you have to sell the share for less than you bought it, it can still be a good investment. Focus on what it means to hold the stock forever:

You own a part of the company. The equity of this part can grow or shrink. The current Book Value per Share is $24.38. Based on the TTM, the Book Value Change Per Share is $1.84 per quarter. Based on the YOY, the Book Value Change Per Share is $-0.02 per quarter.
You may receive quarterly/yearly dividend in the form of additional shares.
You may receive quarterly/yearly dividend in the form of cash. Based on the TTM the Dividend per Share is $0.22 per quarter.

Based on historical numbers we can estimate the returns while holding a share of Hillenbrand.

How much money are you going to get?

	MRQ		TTM		YOY		5Y		10Y
	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share	$	% of Price per Share
Usd Eps	0.24	0.5%	1.93	4.0%	0.72	1.5%	0.75	1.6%	0.57	1.2%
Usd Book Value Change Per Share	0.80	1.7%	1.84	3.8%	-0.02	0.0%	0.69	1.4%	0.39	0.8%
Usd Dividend Per Share	0.22	0.5%	0.22	0.5%	0.21	0.4%	0.21	0.4%	0.20	0.4%
Usd Total Gains Per Share	1.02	2.1%	2.06	4.3%	0.20	0.4%	0.90	1.9%	0.59	1.2%
Usd Price Per Share	47.85	-	47.24	-	41.13	-	39.98	-	37.90	-
Price to Earnings Ratio	49.03	-	28.16	-	14.48	-	3.12	-	10.95	-
Price-to-Total Gains Ratio	47.05	-	-19.13	-	-4,583.90	-	-895.63	-	-498,462,239,608,540.69	-
Price to Book Ratio	1.96	-	1.97	-	2.49	-	2.45	-	3.11	-
Price-to-Total Gains Ratio	47.05	-	-19.13	-	-4,583.90	-	-895.63	-	-498,462,239,608,540.69	-

When do you get the money?

Usd Investment	$.00
Usd Price Per Share	48.02
Number of shares	20

Gains per Quarter	Trailing 12 Months	5 Year
Usd Dividend Per Share	0.22	0.21
Usd Book Value Change Per Share	1.84	0.69
Usd Total Gains Per Share	2.06	0.90
Gains per Quarter (20 shares)	41.28	17.95
Gains per Year (20 shares)	165.11	71.79

Years	Return on Investment (TTM)			Return on Investment (5Y)
	Dividend	Book Value gain	Total gains	Dividend	Book Value gain	Total gains
Broker costs	-	-	-10	-	-	-10
1	18	148	155	17	55	62
2	35	295	320	34	110	134
3	53	443	485	51	165	206
4	70	590	650	68	220	278
5	88	738	815	84	275	350
6	105	886	980	101	329	422
7	123	1033	1145	118	384	494
8	140	1181	1310	135	439	566
9	158	1328	1475	152	494	638
10	175	1476	1640	169	549	710

How sure are you?

Based on the past periods, how sure are you to get value out of your investment.

Linear %

	Trailing 12 Months				3Y				5 Year				10 Year				ALLTIME
				%				%				%				%				%
Earnings Per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	17.0	3.0	0.0	85.0%	36.0	4.0	0.0	90.0%	66.0	4.0	0.0	94.3%
Book Value Change Per Share	3.0	1.0	0.0	75.0%	9.0	3.0	0.0	75.0%	15.0	5.0	0.0	75.0%	28.0	12.0	0.0	70.0%	51.0	16.0	3.0	72.9%
Dividend per Share	4.0	0.0	0.0	100.0%	12.0	0.0	0.0	100.0%	20.0	0.0	0.0	100.0%	40.0	0.0	0.0	100.0%	63.0	0.0	7.0	90.0%
Total Gains per Share	3.0	1.0	0.0	75.0%	9.0	3.0	0.0	75.0%	15.0	5.0	0.0	75.0%	30.0	10.0	0.0	75.0%	53.0	14.0	3.0	75.7%

Fundamentals of Hillenbrand

About Hillenbrand Inc

https://www.hillenbrand.com
Specialty Industrial Machinery
10400
One Batesville Boulevard, Batesville, IN, United States, 47006
Google Maps Bing Maps

Hillenbrand, Inc. operates as an industrial company in the United States and internationally. The company operates through two segments, Advanced Process Solutions and Molding Technology Solutions. The Advanced Process Solutions segment designs, engineers, manufactures, markets, and services process and material handling equipment and systems comprising compounding, extrusion, and material handling equipment, equipment system design services, as well as offers mixing technology, ingredient automation, and portion process; and provides screening and separating equipment for various industries, including plastics, food and pharmaceuticals, chemicals, fertilizers, minerals, energy, wastewater treatment, forest products, and other general industrials. The Molding Technology Solutions segment offers injection molding and extrusion equipment; hot runner systems; process control systems; mold bases and components; maintenance and repair services; and aftermarket parts and service for various industries, including automotive, consumer goods, medical, packaging, construction, and electronics. The company was founded in 1906 and is headquartered in Batesville, Indiana.

Fundamental data was last updated by Penke on 2024-04-04 15:29:04.

Financial Health

Profitability Details

	Compared to previous year	Compared to industry
The company is making a profit.
Using its assets, the company is inefficient in making profit.
Using its investors money, the company is inefficient in making profit.

Operating Efficiency Details

	Compared to previous year	Compared to industry
The company is operating less efficient.
The company is less efficient in keeping operating costs low.

Liquidity Details

	Compared to previous year	Compared to industry
The company is just able to pay all its short-term debts.
The company is just not able to pay all its short-term debts with the most liquid assets.

Solvency Details

	Compared to previous year	Compared to industry
The company is able to pay all its debts by selling its assets.
The company is just not able to pay all its debts with equity.

Valuation

Valuation Details

	Compared to previous year	Compared to industry
Based on the equity, the company is underpriced.
Based on the earnings, the company is overpriced.
Based on how much money comes from the company's main activities, the company is cheap.

1.1. Profitability of Hillenbrand Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Measures how much net profit Hillenbrand earns for each $1 of revenue.

Above 10% is considered healthy but always compare Hillenbrand to the Specialty Industrial Machinery industry mean.
A Net Profit Margin of 2.2% means that $0.02 for each $1 in revenue is generated as profit.

Let's take a look of the Net Profit Margin trends of Hillenbrand Inc:

The MRQ is 2.2%. The company is making a profit. +1
The TTM is 3.5%. The company is making a profit. +1

Trends

Current period		Compared to		+/-
MRQ	2.2%	TTM	3.5%	-1.3%
TTM	3.5%	YOY	6.4%	-2.9%
TTM	3.5%	5Y	4.6%	-1.1%
5Y	4.6%	10Y	5.7%	-1.0%

Compared to industry (Specialty Industrial Machinery)

Period	Company	Industry (mean)	+/-
MRQ	2.2%	5.1%	-2.9%
TTM	3.5%	5.4%	-1.9%
YOY	6.4%	5.4%	+1.0%
5Y	4.6%	4.6%	+0.0%
10Y	5.7%	4.8%	+0.9%

Measures how much net profit Hillenbrand earns for each $1 of revenue.

Revenue is the amount of profit Hillenbrand generates before taxes and all other costs. For example, when you buy a cup of coffee it will cost you $3. The company does not earn $3 in profit but also has to pay various costs and taxes to create that cup of coffee. Let's assume the cost of creating a cup of coffee is $1.5.

The $3 you pay for a cup of coffee is called revenue.
The $1.5 that’s left over when all costs to create that cup of coffee (including taxes) are deduced from the revenue is called net profit.

The net profit margin looks at how much net profit Hillenbrand earns for each $1 in revenue.

How to use net profit margin

Higher profit margin is better (more profit).
Above 10% is considered healthy but always compare Hillenbrand to the Specialty Industrial Machinery industry mean.
Can be used to compare companies within the Specialty Industrial Machinery industry.

You typically want a high profit margin. This means that for each $1 in sales, Hillenbrand makes more profit. This shows the investor how efficiently Hillenbrand is operating in general and compared to other companies in the same industry. Hillenbrand operates in the Specialty Industrial Machinery industry.

Why do investors use net profit margin in their analysis

It helps investors to determine the efficiency of Hillenbrand. If profit margins remain low (compared to the Specialty Industrial Machinery industry mean) and there are no improvements to make in production costs or other areas that might be a warning sign. If profit margins are high that means the company has low overhead costs and is efficiently using its resources to generate profit.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Net Profit Margin of Hillenbrand is 0.02. This means that Hillenbrand earned $0.02 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Net Profit Margin of the Specialty Industrial Machinery industry is 5.1%.
What is the trend?
The trend is important because it shows you how Hillenbrand is performing over time. The most recent quarter might be important if Hillenbrand released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Hillenbrand up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare Hillenbrand with other companies in the same industry (Specialty Industrial Machinery).
Net profit margin should rise over the years.
Can be influenced when Hillenbrand sells assets (profit will increase while costs remain the same).
It won’t show what part of Hillenbrand is doing great or needs improvement (it only looks at total revenue and total net income).

How to calculate net profit margin

Net profit margin = net income / total revenue * 100%

Real example of Hillenbrand

You need the following data to determine net profit margin:

Income statement from the period you want to calculate (for example, MRQ or TTM).

Net income MRQ Hillenbrand = 17,200
Total revenue MRQ Hillenbrand = 773,300
$17,200 / $773,300 = 0.02 or 2.2%

Higher is better

The higher the net profit margin, the more efficient the company is generating income. This helps investors to determine how the company is managing money. The net profit margin is an important indicator when diving into the financial health of a company. Overall, you want to see the net profit margin rising over the years. That means the company improved their production and made it more efficient (if possible).

You can use the net profit margin to compare companies within the same industry. If there are two companies where one is much bigger but the smaller one has a higher net profit margin, that means the smaller company is more efficiently using operational costs.

Important: Profit margins can be very different between industries. Companies with assembly lines or transports are much more prone to see shifting in prices for fuel, ingredients and maintenance compared to companies that only provide services. You should never compare net profit margin between different industries.

1.1.2. Return on Assets

Shows how efficient Hillenbrand is using its assets to generate profit.

Above 5% is considered healthy but always compare Hillenbrand to the Specialty Industrial Machinery industry mean.
0.3% Return on Assets means that Hillenbrand generated $0.00 profit for each $1 in assets.

Let's take a look of the Return on Assets trends of Hillenbrand Inc:

The MRQ is 0.3%. Using its assets, the company is inefficient in making profit. -1
The TTM is 0.5%. Using its assets, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	0.3%	TTM	0.5%	-0.2%
TTM	0.5%	YOY	1.2%	-0.6%
TTM	0.5%	5Y	0.9%	-0.4%
5Y	0.9%	10Y	1.2%	-0.3%

Compared to industry (Specialty Industrial Machinery)

Period	Company	Industry (mean)	+/-
MRQ	0.3%	1.6%	-1.3%
TTM	0.5%	1.6%	-1.1%
YOY	1.2%	1.6%	-0.4%
5Y	0.9%	1.6%	-0.7%
10Y	1.2%	1.6%	-0.4%

Shows how efficient Hillenbrand is using its assets to generate profit.

For a farm, a tractor is considered an asset. The tractor helps ploughing the land making it possible to plant and harvest crops. But the tractor might be old and needing maintenance all the time reducing its efficiency. Return on assets indicates how effectively the farm is using the tractor (and other assets that help the core business) to plough the land.

How to use return on assets

Higher is better.
Above 5% is considered healthy but always compare Hillenbrand to the Specialty Industrial Machinery industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on assets in their analysis

Shows the investor how effectively Hillenbrand is using its resources to generate profit. If the return on assets (0.3%) from Hillenbrand are higher than the Specialty Industrial Machinery mean (1.6%) that means Hillenbrand is using its resources better than their competitors. If not, that means their competitors are more efficient in using their resources to generate profit.

An investor should always look at:

What is the current return on assets?
The current most recent quarter (MRQ) Return on Assets of Hillenbrand is 0.3%. This means the company generated $0.00 for each $1 in assets.
How does it compare to the industry?
The mean MRQ Return on Assets of the Specialty Industrial Machinery industry is 1.6%.
What is the trend?
The trend is important because it shows you how Hillenbrand is performing over time. The most recent quarter might be important if Hillenbrand released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Hillenbrand up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
If a company has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

How to calculate return on assets

Return on assets = net income / total assets * 100%

Real example Hillenbrand

You need the following data to determine return on assets (ROA):

Income statement
Balance sheet

Net income MRQ (income statement) from Hillenbrand = 17,200
Total assets MRQ (balance sheet) from Hillenbrand = 5,584,900
17,200 / 5,584,900 = 0.00 or 0.3%

ROA is an important ratio as it will tell you how effectively Hillenbrand is using its resources to generate profits. Example:

Bob and Kristin both sell ice cream in the summer. They both have an ice cream truck. The truck Bob owes cost him $20.000 and the truck Kristin owes cost her $1500. Over the summer, Bob earned $2000 and Kristin earned $200. To calculate the return on assets:

Bob: $2000 / $20.000 * 100% = 10%
Kristin: $200 / $1500 * 100% = 13.3%

This tells you Bob’s company is more valuable but Kristin's company is more efficient. Be aware that total assets can change over time. A transportation business will buy and sell trucks or planes all the time. Before using return on assets as a guideline, you have to know what the exact assets are. For a company that has many assets changing over time, it’s better to calculate the average assets instead of the total assets.

1.1.3. Return on Equity

Shows how efficient Hillenbrand is using its investors money to generate profit.

Above 15%-20% is considered healthy but always compare Hillenbrand to the Specialty Industrial Machinery industry mean.
1.0% Return on Equity means Hillenbrand generated $0.01 for each $1 the owners (shareholders) invested.

Let's take a look of the Return on Equity trends of Hillenbrand Inc:

The MRQ is 1.0%. Using its investors money, the company is inefficient in making profit. -1
The TTM is 1.6%. Using its investors money, the company is inefficient in making profit. -1

Trends

Current period		Compared to		+/-
MRQ	1.0%	TTM	1.6%	-0.5%
TTM	1.6%	YOY	4.1%	-2.5%
TTM	1.6%	5Y	2.7%	-1.1%
5Y	2.7%	10Y	3.5%	-0.8%

Compared to industry (Specialty Industrial Machinery)

Period	Company	Industry (mean)	+/-
MRQ	1.0%	3.6%	-2.6%
TTM	1.6%	3.6%	-2.0%
YOY	4.1%	3.6%	+0.5%
5Y	2.7%	3.2%	-0.5%
10Y	3.5%	3.2%	+0.3%

Shows how efficient Hillenbrand is using its investors money to generate profit.

A publicly traded company (any company that issues shares to the public) is owned by its shareholders. Return on equity calculates the amount of profit for every $1 the shareholders invested.

How to use return on equity

Higher is better.
Above 15%-20% is considered healthy but always compare Hillenbrand to the Specialty Industrial Machinery industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use return on equity in their analysis

To find out the owners/management's attitude toward their company. You typically want the owners/management to invest in the company and focus on generating profit. If not enough profit is generated (compared to the Specialty Industrial Machinery industry mean), the company might not be investing their money efficiently.

The three steps every investor should look at:

What is the current return on equity?
The current most recent quarter (MRQ) Return on Equity of Hillenbrand is 1.0%. This means Hillenbrand generated $0.01 for each $1 the owners (shareholders) invested.
How does it compare to the industry?
The mean MRQ Return on Equity of the Specialty Industrial Machinery industry is 3.6%.
What is the trend?
The trend is important because it shows you how Hillenbrand is performing over time. The most recent quarter might be important if Hillenbrand released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Hillenbrand up to 10 years back (depending if Hillenbrand existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Does not include intangible assets (non physical assets like licences, computer software, etc.).
Stockholders equity and shareholders equity refer to the same thing.
Liabilities should not be more than three times return on equity.

How to calculate return on equity

Return on equity = net profit / shareholders equity * 100%

Real example of Hillenbrand

You need the following data to determine ROE:

Income statement
Balance sheet
Net profit MRQ (income statement) Hillenbrand = 17,200
Shareholders equity (balance sheet) MRQ Hillenbrand = 1,688,600
17,200 / 1,688,600 = 0.01 or 1.0%

A negative shareholder equity is a warning sign. It means the company has more liabilities than assets. It might also mean that the owners did not invest enough money or they are taking money out of the business.

1.2. Operating Efficiency of Hillenbrand Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Measures how efficient Hillenbrand is operating .

Measures how much profit Hillenbrand makes for each $1 of sales after paying variable costs (production costs, wages, etc) but before taxes.
Above 15% is considered healthy but always compare Hillenbrand to the Specialty Industrial Machinery industry mean.
An Operating Margin of 7.7% means the company generated $0.08 for each $1 in revenue (before taxes).

Let's take a look of the Operating Margin trends of Hillenbrand Inc:

The MRQ is 7.7%. The company is operating less efficient.
The TTM is 10.5%. The company is operating less efficient.

Trends

Current period		Compared to		+/-
MRQ	7.7%	TTM	10.5%	-2.9%
TTM	10.5%	YOY	11.9%	-1.4%
TTM	10.5%	5Y	11.0%	-0.5%
5Y	11.0%	10Y	11.7%	-0.7%

Compared to industry (Specialty Industrial Machinery)

Period	Company	Industry (mean)	+/-
MRQ	7.7%	7.7%	0.0%
TTM	10.5%	5.7%	+4.8%
YOY	11.9%	6.6%	+5.3%
5Y	11.0%	6.4%	+4.6%
10Y	11.7%	6.2%	+5.5%

Measures how efficient Hillenbrand is operating .

The more effecient a company creates products or provides services, the more profit it generates.

How to use operating margin

Higher is better
Above 15% is considered healthy but always compare Hillenbrand to the Specialty Industrial Machinery industry mean.
Can be very different between industries
Can be used to compare companies

Why do investors use operating margin in their analysis

To determine how much profit Hillenbrand is making from it’s core business.

The three steps every investor should look at:

What is the current net profit margin?
The current most recent quarter (MRQ) Operating Margin of Hillenbrand is 7.7%. This means that Hillenbrand earned $0.08 for each $1 in revenue in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Margin of the Specialty Industrial Machinery industry is 7.7%.
What is the trend?
The trend is important because it shows you how Hillenbrand is performing over time. The most recent quarter might be important if Hillenbrand released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Hillenbrand up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Can be calculated in different ways

How to calculate operating margin

Operating margin = operating earnings / total revenue

Real example of Hillenbrand

You need the following data to determine operating margin:

Income statement
Operating earnings MRQ Hillenbrand = 19,500
Total revenue MRQ Hillenbrand = 773,300
$19,500 / $773,300 = 0.08 or 7.7%

Operating margin is used to calculate how much profit a company makes after variable costs of production but before paying interest and taxes. Some variable costs examples are wages, raw materials, packaging, and transaction fees. The amount of variable costs is different for each company and industry. In general, a higher operating margin is better as this implicates that a company is running efficiently.

For investors, a higher operating margin is a good sign. Although you should always look at operating margin in the long term. If operating margin is fluctuating over the years this might be a sign that things are not running efficiently enough. It’s a way to check how much profit a company is making from its core business.

Operation earnings can be calculated in multiple ways:

Operation earnings = EBIT - non operating income + non operating expense
Operation earnings = Gross profit - operating expense - depreciation and amortisation
Operation earnings = Total revenue - COGS (costs of goods sold) - indirect costs

1.2.2. Operating Ratio

Measures how efficient Hillenbrand is keeping operating costs low.

Below 1 is considered healthy (always compare to Specialty Industrial Machinery industry mean).
An Operation Ratio of 0.92 means that the operating costs are $0.92 for each $1 in net sales.

Let's take a look of the Operating Ratio trends of Hillenbrand Inc:

The MRQ is 0.923. The company is less efficient in keeping operating costs low.
The TTM is 0.898. The company is less efficient in keeping operating costs low.

Trends

Current period		Compared to		+/-
MRQ	0.923	TTM	0.898	+0.025
TTM	0.898	YOY	0.885	+0.013
TTM	0.898	5Y	0.891	+0.007
5Y	0.891	10Y	0.883	+0.008

Compared to industry (Specialty Industrial Machinery)

Period	Company	Industry (mean)	+/-
MRQ	0.923	1.553	-0.630
TTM	0.898	1.551	-0.653
YOY	0.885	1.517	-0.632
5Y	0.891	1.503	-0.612
10Y	0.883	1.329	-0.446

Measures how efficient Hillenbrand is keeping operating costs low.

If the operating ratio is below 1 that means the company is making money. The lower the operating ratio, the more efficient the company.

How to use operating ratio

Lower is better.
Below 1 is considered healthy but always compare Hillenbrand to the Specialty Industrial Machinery industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use operating ratio in their analysis

Shows if costs of creating products and or services is increasing or decreasing. The lower the operating ratio, the more efficient the company is creating products and services.

The three steps every investor should look at:

What is the current Operatin ratio?
The current most recent quarter (MRQ) Operating Ratio of Hillenbrand is 92.3%. This means that Hillenbrand earned $0.92 for each $1 in net sales in the most recent quarter.
How does it compare to the industry?
The mean MRQ Operating Ratio of the Specialty Industrial Machinery industry is 1.55.
What is the trend?
The trend is important because it shows you how Hillenbrand is performing over time. The most recent quarter might be important if Hillenbrand released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Hillenbrand up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
You need COGS to calculate operating ratio which is not always shown in the income statement.
Does not consider debt.

How to calculate operating ratio

Operating ratio = Operating expenses + COGS \ Net sales

Real life example Hillenbrand

You need the following data to determine operating ratio:

Income statement

COGS is not always specified on the income statement. If so you can use the following calculation:

(cost of revenue + total operating expenses) \ total revenue
(522,300 +191,700) \ 773,300 = 0.92

The operating ratio measures the efficiency of a company at keeping low costs while generating profits from sales. It compares the total operating expenses to the net amount of sales. The total operating expenses exists of:

COGS (materials, labour, rent of facility, repairs)
Operating expenses (legal fees, marketing, wages, rent, maintenance/repairs)

Operating expenses are all the costs the company makes that are not directly tied to the production of the service or product. Where COGS are costs that are directly tied to the production of a product or service.

Do note that COGS is not always available in the income statement. Some companies include COGS in the operating expenses while others list COGS separately. To make it even more confusing, COGS is also known as “costs of sales” and costs of sales is the same as costs of revenue.

The operating ratio tells you how efficient the company is creating its products or services while keeping prices low. In this case, a lower ratio is better. Higher or rising operating ratios might tell you that costs are rising while sales are not improving or staying the same.

1.3. Liquidity of Hillenbrand Inc.

1.3. Liquidity

1.3.1. Current Ratio

Measures if Hillenbrand is able to pay off Short-term Debt.

Above 1.5 is considered healthy (always compare to Specialty Industrial Machinery industry mean).
A Current Ratio of 1.28 means the company has $1.28 in assets for each $1 in short-term debts.

Let's take a look of the Current Ratio trends of Hillenbrand Inc:

The MRQ is 1.282. The company is just able to pay all its short-term debts.
The TTM is 1.283. The company is just able to pay all its short-term debts.

Trends

Current period		Compared to		+/-
MRQ	1.282	TTM	1.283	-0.001
TTM	1.283	YOY	1.356	-0.074
TTM	1.283	5Y	1.415	-0.132
5Y	1.415	10Y	1.397	+0.018

Compared to industry (Specialty Industrial Machinery)

Period	Company	Industry (mean)	+/-
MRQ	1.282	1.687	-0.405
TTM	1.283	1.682	-0.399
YOY	1.356	1.643	-0.287
5Y	1.415	1.754	-0.339
10Y	1.397	1.652	-0.255

Measures if Hillenbrand is able to pay off Short-term Debt.

How to use current ratio

Higher is better
Above 1.5 is considered healthy (always compare to Specialty Industrial Machinery industry mean).
Can be very different between industries
Can be used to compare companies

Why do investors use current ratio in their analysis

Shows if the company can pay of short term debts if needed. A company that can't pay off it's short term debts might get in trouble if they have to pay off their short term debts for whatever reason. For example, markets can change due to global events like covid-19 or the war in Ukraine versus Russia. Because debts are always taken based on future income, it might become troublesome for Hillenbrand if something happens in the market that will cause sales to plummet.

The three steps every investor should look at:

What is the current current Ratio?
The current most recent quarter (MRQ) Current Ratio of Hillenbrand is 1.28. This means Hillenbrand has $1.28 in assets for each $1 in short-term debts.
How does it compare to the industry?
The mean MRQ Current Ratio of the Specialty Industrial Machinery industry is 1.69.
What is the trend?
The trend is important because it shows you how Hillenbrand is performing over time. The most recent quarter might be important if Hillenbrand released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Hillenbrand up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Might be deluded.
Not all assets can always be quickly sold.
Can be manipulated by increasing or decreasing the assets and/or liabilities.

How to calculate current ratio

Current ratio = current assets \ current liabilities

Real life example Hillenbrand

You need the following data to determine operating ratio:

Balance sheet
Current ratio = current assets \ current liabilities
1,577,500 \ 1,230,800) = 1.28

The current ratio measures if Hillenbrand is able to pay short-term debts (obligations). Short term in this context means all debt obligations that are about to expire within one year. The current ratio incorporates current liabilities and current assets. Current assets are all the assets a company has that are expected to be consumed or sold within standard business operations. You can find the current assets in the balance sheet. They consist of:

Inventory
Accounts receivable
Marketable securities
Prepaid expenses
Cash
Cash equivalents
liquid assets

The current liabilities are short term obligations that are due within one year. These consist of:

Short term debts
Dividends
Income taxes
Short-term debts
Accounts payable
Interest payments

The result shows an investor if Hillenbrand is able to pay all its short-term debts if they were due all at once. When the result of the above formula is below 1, then Hillenbrand does not have enough capital after selling all its assets to pay all short-term debts. If the ratio drops far below 1 that might indicate Hillenbrand is or will be in financial trouble anytime soon.

Although this gives an investor some clues, the current ratio may also be deluded. Because owning assets does not mean the company can easily sell them. Also, Accounts receivable may be quite old (they will probably never pay) which deludes the current ratio. As with all ratios, you should only compare them between the same industries and companies.

1.3.2. Quick Ratio

Measures if Hillenbrand is able to pay off Short-term Debt but only using the most liquid assets.

Above 1 is considered healthy but always compare Hillenbrand to the Specialty Industrial Machinery industry mean.
A Quick Ratio of 0.68 means the company can pay off $0.68 for each $1 in debt (using most liquid assets).

Let's take a look of the Quick Ratio trends of Hillenbrand Inc:

The MRQ is 0.681. The company is just not able to pay all its short-term debts with the most liquid assets. -1
The TTM is 0.793. The company is just not able to pay all its short-term debts with the most liquid assets. -1

Trends

Current period		Compared to		+/-
MRQ	0.681	TTM	0.793	-0.113
TTM	0.793	YOY	0.734	+0.059
TTM	0.793	5Y	0.852	-0.058
5Y	0.852	10Y	0.859	-0.008

Compared to industry (Specialty Industrial Machinery)

Period	Company	Industry (mean)	+/-
MRQ	0.681	0.680	+0.001
TTM	0.793	0.705	+0.088
YOY	0.734	0.779	-0.045
5Y	0.852	0.841	+0.011
10Y	0.859	0.872	-0.013

Measures if Hillenbrand is able to pay off Short-term Debt but only using the most liquid assets.

How to use quick ratio

Higher is better.
Above 1 is considered healthy but always compare Hillenbrand to the Specialty Industrial Machinery industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use quick ratio in their analysis

Shows how fast Hillenbrand can pay off its short term debts. This shows if Hillenbrand can survive emergencies due to market changes or other reasons.

The three steps every investor should look at:

What is the current Quick Ratio?
The current most recent quarter (MRQ) quickRatio of Hillenbrand is 0.68. This means that Hillenbrand can pay off $0.68 for each $1 in debt (using most liquid assets).
How does it compare to the industry?
The mean MRQ Quick Ratio of the Specialty Industrial Machinery industry is 0.68.
What is the trend?
The trend is important because it shows you how Hillenbrand is performing over time. The most recent quarter might be important if Hillenbrand released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Hillenbrand up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Incorporates only most liquid assets.

How to calculate quick ratio

Quick ratio = cash and equivalents + marketable securities + accounts receivable / current liabilities

Real life example Hillenbrand

You need the following data to determine operating ratio:

Balance sheet
Quick ratio = cash and short-term investments + short-term investments + netReceivables / total current liabilities
MRQ quick ratio Hillenbrand: (198,400 + 0 +639,700) / 1,230,800 = 0.68

The quick ratio measures the same thing as the current ratio, only it uses the most liquid assets a company has. Meaning, the assets that can be sold for cash the easiest and fastest.

As the quick ratio only incorporates the most liquid assets, you should also check the current ratio which also includes less liquid assets. But they may be harder to sell.

1.4. Solvency of Hillenbrand Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Measures how much % of Hillenbrand assets are financed with debt.

Below 1 (100%) is considered healthy but always compare Hillenbrand to Specialty Industrial Machinery industry mean.
A Debt to Asset Ratio of 0.69 means that Hillenbrand assets are financed with 69.2% credit (debt) and the remaining percentage (100% - 69.2%) is financed by its owners/shareholders.

Let's take a look of the Debt to Asset Ratio trends of Hillenbrand Inc:

The MRQ is 0.692. The company is able to pay all its debts by selling its assets. +1
The TTM is 0.673. The company is able to pay all its debts by selling its assets. +1

Trends

Current period		Compared to		+/-
MRQ	0.692	TTM	0.673	+0.019
TTM	0.673	YOY	0.715	-0.042
TTM	0.673	5Y	0.690	-0.017
5Y	0.690	10Y	0.672	+0.018

Compared to industry (Specialty Industrial Machinery)

Period	Company	Industry (mean)	+/-
MRQ	0.692	0.499	+0.193
TTM	0.673	0.504	+0.169
YOY	0.715	0.504	+0.211
5Y	0.690	0.499	+0.191
10Y	0.672	0.491	+0.181

Measures how much % of Hillenbrand assets are financed with debt.

When there are more debts than assets, that means creditors have a larger stake Hillenbrand than its shareholders.

How to use debt to asset ratio

Lower is better.
below 1 (100%) is considered healthy but always compare Hillenbrand to Specialty Industrial Machinery industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to asset ratio in their analysis

It shows how much debt the company used to finance its assets. If a company is almost entirely financed with debt that means the company might get into serious trouble when emergencies arise like a raise in interest.

The three steps every investor should look at:

What is the current debt to asset ratio?
The current most recent quarter (MRQ) Debt to Asset Ratio of Hillenbrand is 0.69. This means means that Hillenbrand is financed with 69.2% credit and the remaining percentage is financed by it's owners (shareholders).
How does it compare to the industry?
The mean MRQ Current Ratio of the Specialty Industrial Machinery industry is 168.7%.
What is the trend?
The trend is important because it shows you how Hillenbrand is performing over time. The most recent quarter might be important if Hillenbrand released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Hillenbrand up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry
Some companies can have higher debt to assets ratio's (for example, banks).
Debt to asset ratio should improve over the years.
If the debt to asset ratio is above 1, look at the industry mean and find out why Hillenbrand has so much debt.

How to calculate debt to asset ratio

Debt to asset ratio = total debt \ total assets

Real life example Hillenbrand

You need the following data to determine debt to asset ratio:

Balance sheet
Debt to asset ratio = total debt \ total assets
3,865,900 \ 5,584,900 = 69.2% or 0.69.

The debt to total assets ratio shows if the company is owned by creditors or shareholders. Or in other words, the total debt in relation to the total amount of assets. It shows how much debt the company used to finance its assets.

1.4.2. Debt to Equity Ratio

Measures if Hillenbrand is able to pay off its debts by using shareholders equity.

Below 2 is considered healthy but always compare Hillenbrand to the Specialty Industrial Machinery industry mean.
A Debt to Equity ratio of 228.9% means that company has $2.29 debt for each $1 in shareholders equity.

Let's take a look of the Debt to Equity Ratio trends of Hillenbrand Inc:

The MRQ is 2.289. The company is just not able to pay all its debts with equity.
The TTM is 2.112. The company is just not able to pay all its debts with equity.

Trends

Current period		Compared to		+/-
MRQ	2.289	TTM	2.112	+0.177
TTM	2.112	YOY	2.595	-0.483
TTM	2.112	5Y	2.333	-0.221
5Y	2.333	10Y	2.139	+0.194

Compared to industry (Specialty Industrial Machinery)

Period	Company	Industry (mean)	+/-
MRQ	2.289	0.991	+1.298
TTM	2.112	1.027	+1.085
YOY	2.595	1.018	+1.577
5Y	2.333	1.054	+1.279
10Y	2.139	1.031	+1.108

Measures if Hillenbrand is able to pay off its debts by using shareholders equity.

How to use debt to equity ratio

Lower is better.
Below 2 is considered healthy (always use industry average).
Can be very different between industries.
Can be used to compare companies.

Why do investors use the debt to shareholders equity ratio in their analysis

It shows how much debt the company uses to finance their operations. Shareholders equity is whats left over when you subtract total liabilities from total assets. It's another way to meassure how much of Hillenbrand is financed with debt or own resources.

The three steps every investor should look at:

What is the current debt to equity ratio?
The current most recent quarter (MRQ) quickRatio of Hillenbrand is 2.29. This means that Hillenbrand can pay off $2.29 for each $1 in debt.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Specialty Industrial Machinery industry is 0.99.
What is the trend?
The trend is important because it shows you how Hillenbrand is performing over time. The most recent quarter might be important if Hillenbrand released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Hillenbrand up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Not all debt is equally risky (for example, short term risk is less risky).

How to calculate debt to equity ratio

Debt to equity ratio = total debt \ shareholders equity.

Real life example Hillenbrand

You need the following data to determine equity ratio:

Balance sheet
Debt to equity ratio = total debt \ shareholders equity
3,865,900 \ 1,688,600 = 2.29 or 228.9%

Debt to equity measures the total debt versus the total shareholders equity. While the total debts to total assets ratio uses total assets, the debt to equity ratio looks at the total equity of shareholders. Where equity of shareholders are:

Common shares.
Preferred shares.
Retained earnings.

You can find the shareholders' equity in the balance sheet. A ratio between 0,5 and 1,5 is preferred. If the ratio is above 1.5, that would indicate creditors have significantly more stake (debt) in the company than the shareholders. In other words, the company is using a lot of debt to finance their operations.

Not all debt is equally risky. Meaning you can adjust the ratio by including or excluding certain amounts of debt. Short term debts are less risky because they have to be paid back within one year anyway. It’s much easier to plan one year ahead versus five or ten years.

2. Market Valuation of Hillenbrand Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Measures how much money you pay for each share for every $1 in earnings Hillenbrand generates.

Above 15 is considered overpriced but always compare Hillenbrand to the Specialty Industrial Machinery industry mean.
A PE ratio of 49.03 means the investor is paying $49.03 for every $1 in earnings.

Let's take a look of the Price to Earnings Ratio trends of Hillenbrand Inc:

The EOD is 49.207. Based on the earnings, the company is overpriced. -1
The MRQ is 49.032. Based on the earnings, the company is overpriced. -1
The TTM is 28.155. Based on the earnings, the company is overpriced. -1

Trends

Current period		Compared to		+/-
EOD	49.207	MRQ	49.032	+0.174
MRQ	49.032	TTM	28.155	+20.877
TTM	28.155	YOY	14.476	+13.679
TTM	28.155	5Y	3.120	+25.035
5Y	3.120	10Y	10.952	-7.832

Compared to industry (Specialty Industrial Machinery)

Period	Company	Industry (mean)	+/-
EOD	49.207	18.806	+30.401
MRQ	49.032	18.501	+30.531
TTM	28.155	19.665	+8.490
YOY	14.476	19.594	-5.118
5Y	3.120	24.043	-20.923
10Y	10.952	29.187	-18.235

Measures how much money you pay for each share for every $1 in earnings Hillenbrand generates.

Indicates if the company’s shares are under or overvalued.

How to use PE ratio

Above 15 is considered overpriced but is hard to determine. Always compare Hillenbrand to the Specialty Industrial Machinery industry mean.
Can be very different between industries.
Can be used to compare companies.

Why do investors use PE ratio in their analysis

The PE ratio tells investors the current sentiment in the market for that company. As with every stock, the stock price never shows the real valuation of a company but rather how the market thinks how much the stock is worth.

In other words, the current stock price also incorporates any future earnings or business opportunities in the future. The best example is the stock market crash in 2000. The PE ratio for any internet based company was going through the roof. Only based on the general assumption the internet and all associated businesses would thrive in the future. But this was based on nothing. A business still needs a good product or service to be able to survive. Instead, every investor bought any stock which did something related to the internet. Result: huge market crash.

Many investors were willing to pay premium prices and that was causing the PE ratio to rise. A high PE ratio is a warning sign that investors might be overvaluing a stock based on future earnings.

The three steps every investor should look at:

What is the current PE Ratio?
The current most recent quarter (MRQ) PE Ratio of Hillenbrand is 49.03. This means the investor is paying $49.03 for every $1 in earnings.
How does it compare to the industry?
The mean MRQ Quick Ratio of the Specialty Industrial Machinery industry is 18.50.
What is the trend?
The trend is important because it shows you how Hillenbrand is performing over time. The most recent quarter might be important if Hillenbrand released a new product or service. And you can use MRQ to see if they performed better vs last year. You can find all the trends for Hillenbrand up to 10 years back (depending if the company existed 10 years ago) when you exit this learning section.

Things to be aware of

Only compare with other companies in the same industry.
Some industries might have very high or very low PE ratios in general.
PE ratios can be high for several years, it does not mean a sudden collapse is imminent.
Earnings growth is not included in the PE ratio.

How to calculate PE ratio

PE ratio = market value per share \ earnings per share

Real life example Hillenbrand

You need the following data to determine the PE ratio:

Balance sheet
Income statement

The PE ratio is a very commonly used ratio to determine the value of a company by comparing the current stock price relative to its earnings per share (EPS). Before we can calculate the PE ratio we need to know the EPS. EPS is calculated as follows:

EPS = (net profit - preferred dividends) \ end of period outstanding shares*
Net profit = revenue - expenses
0 \ 70,500 = EPS
PE ratio MRQ = 49.03

* The net profit minus preferred dividends can be found in the incomestatement as netIncomeApplicableToCommonShares.

The PE value helps investors to determine if the current stock price is under or overvalued. It also projects future growth.

In general, a higher PE ratio means that investors predict higher future growth. If the PE ratio is too high, then investors expect way too much future growth the company can never fulfil. This is most likely to happen in faster moving companies like tech companies or automobile companies like Tesla. These are hot and booming markets where investors expect much future growth driven by new technology (electric cars). When looking at the current MRQ (most recent quarter) PE ratio of Tesla ( jan. 2021) it's about 247 while the average in the industry is only 6. That might be a clue that Tesla is trading for way too high prices compared to their current assets and is more based on future growth.

2.2. Price To Free Cash Flow Ratio

Let's take a look of the Price To Free Cash Flow Ratio trends of Hillenbrand Inc:

The EOD is -23.251. Based on how much money comes from the company's main activities, the company is expensive. -2
The MRQ is -23.169. Based on how much money comes from the company's main activities, the company is expensive. -2
The TTM is 7.165. Based on how much money comes from the company's main activities, the company is cheap. +2

Trends

Current period		Compared to		+/-
EOD	-23.251	MRQ	-23.169	-0.082
MRQ	-23.169	TTM	7.165	-30.334
TTM	7.165	YOY	-21.952	+29.117
TTM	7.165	5Y	10.938	-3.773
5Y	10.938	10Y	11.501	-0.563

Compared to industry (Specialty Industrial Machinery)

Period	Company	Industry (mean)	+/-
EOD	-23.251	5.244	-28.495
MRQ	-23.169	5.138	-28.307
TTM	7.165	3.184	+3.981
YOY	-21.952	-0.338	-21.614
5Y	10.938	1.618	+9.320
10Y	11.501	2.098	+9.403

2. Book Value per Share

2.3. Price to Book Ratio

Measures if the stock price of Hillenbrand is to cheap or to expensive compared to its book value.

At or below 1 is considered healthy (always compare to Specialty Industrial Machinery industry mean).
A PB ratio of 1.96 means the investor is paying $1.96 for each $1 in book value.

Let's take a look of the Price to Book Ratio trends of Hillenbrand Inc:

The EOD is 1.969. Based on the equity, the company is underpriced. +1
The MRQ is 1.962. Based on the equity, the company is underpriced. +1
The TTM is 1.974. Based on the equity, the company is underpriced. +1

Trends

Current period		Compared to		+/-
EOD	1.969	MRQ	1.962	+0.007
MRQ	1.962	TTM	1.974	-0.011
TTM	1.974	YOY	2.488	-0.514
TTM	1.974	5Y	2.450	-0.476
5Y	2.450	10Y	3.111	-0.661

Compared to industry (Specialty Industrial Machinery)

Period	Company	Industry (mean)	+/-
EOD	1.969	2.049	-0.080
MRQ	1.962	2.090	-0.128
TTM	1.974	2.107	-0.133
YOY	2.488	2.365	+0.123
5Y	2.450	2.371	+0.079
10Y	3.111	2.744	+0.367

2. Total Gains per Share

3. Holders & Insider Transactions

Let's take a look at which institutions, funds and insiders are holding shares of Hillenbrand Inc.

3.1. Institutions holding Hillenbrand Inc

Institutions are holding 90.908% of the shares of Hillenbrand Inc.

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2023-12-31	BlackRock Inc	16.6109	0.0142	11644227	767324	7.0546
2023-12-31	Vanguard Group Inc	12.0002	0.0088	8412143	133975	1.6184
2023-12-31	FMR Inc	9.247	0.0238	6482152	1727740	36.3397
2023-12-31	Clarkston Capital Partners, LLC	6.2888	3.9104	4408426	-410824	-8.5246
2023-12-31	Victory Capital Management Inc.	4.1159	0.1452	2885216	283608	10.9013
2023-12-31	State Street Corporation	3.849	0.0063	2698155	226906	9.1818
2023-12-31	HHG PLC	2.5994	0.052	1822186	-210711	-10.3651
2023-12-31	Dimensional Fund Advisors, Inc.	2.4924	0.0244	1747176	120782	7.4264
2023-12-31	Geode Capital Management, LLC	2.0947	0.0074	1468378	80540	5.8033
2023-12-31	Channing Capital Management, LLC	1.9244	1.9049	1349010	-104551	-7.1927
2023-12-31	Fuller & Thaler Asset Management Inc	1.4459	0.2457	1013606	276649	37.5394
2023-12-31	Charles Schwab Investment Management Inc	1.2396	0.0106	868965	39697	4.787
2023-12-31	NORGES BANK	1.1964	0.007	838667	130363	18.405
2023-12-31	Bank of New York Mellon Corp	1.1823	0.008	828812	-32555	-3.7795
2023-12-31	William Blair Investment Management, LLC	1.1306	0.1104	792519	-14247	-1.7659
2023-12-31	Northern Trust Corp	1.0991	0.0067	770474	5902	0.7719
2023-12-31	Morgan Stanley - Brokerage Accounts	1.0533	0.0031	738388	-7525	-1.0088
2023-12-31	Ameriprise Financial Inc	1.0035	0.0101	703486	9941	1.4334
2023-12-31	Nuveen Asset Management, LLC	0.7267	0.0078	509435	37778	8.0096
2023-12-31	Raymond James & Associates	0.6688	0.0168	468815	44053	10.3712
Total		71.9689	6.5236	50450236	+3104845	+6.2%

3.2. Funds holding Hillenbrand Inc

Date	Name	Total Shares	Total Assets	Current Shares	Change	%
2024-02-29	iShares Core S&P Small-Cap ETF	6.7914	0.2922	4760772	6642	0.1397
2023-12-31	Clarkston Capital SMID Composite	6.284	5.6605	4405076	-412624	-8.5648
2023-12-31	Fidelity Low-Priced Stock	4.098	0.4995	2872700	218365	8.2267
2024-02-29	Vanguard Total Stock Mkt Idx Inv	3.1903	0.0069	2236432	-7312	-0.3259
2023-12-31	Victory Small Cap Value CIT (Net 75)	2.9886	1.4252	2095000	159000	8.2128
2023-12-31	Victory Sycamore Small Company Opp R	2.9886	1.4281	2095000	159000	8.2128
2024-02-29	Vanguard Small Cap Index	2.5709	0.061	1802189	16634	0.9316
2024-02-29	iShares Russell 2000 ETF	2.421	0.1294	1697109	-277	-0.0163
2023-12-31	Clarkston Partners Founders	1.9544	4.9393	1370000	-420000	-23.4637
2024-02-29	Vanguard Small Cap Value Index Inv	1.7551	0.11	1230335	8691	0.7114
2024-02-29	Vanguard Institutional Extnd Mkt Idx Tr	1.4712	0.0481	1031304	785	0.0762
2023-12-31	Janus Henderson Small Cap Value L	1.3506	1.8115	946757	-181412	-16.0802
2023-12-31	FullerThaler Behavioral Small-Cap Value	1.2651	0.4974	886839	54938	6.6039
2024-02-29	iShares S&P Small-Cap 600 Value ETF	1.259	0.5964	882525	2031	0.2307
2024-01-31	Undiscovered Managers Behavioral Val L	1.2036	0.4959	843706	0	0
2023-12-31	Fidelity Small Cap Index	0.9955	0.1314	697814	18328	2.6973
2024-02-29	SPDR® Portfolio S&P 600 Sm Cap ETF	0.8969	0.2912	628728	129	0.0205
2023-12-31	Janus Henderson Mid Cap Value L	0.8815	1.4599	617897	-15020	-2.3731
2024-02-29	iShares Russell 2000 Growth ETF	0.8792	0.2581	616286	1693	0.2755
2024-01-31	Fidelity VIP Mid Cap Initial	0.7846	0.3744	550000	34100	6.6098
Total		46.0295	20.5164	32266469	-356309	-1.1%

3.3. Insider Transactions

Insiders are holding 0.821% of the shares of Hillenbrand Inc.

Date	Owner	Type	Amount	Price
2024-03-15	Nicholas R Farrell	SELL	8542	47.02
2024-02-09	Kimberly K Ryan	BUY	5600	44.94
2024-02-09	Robert M Vanhimbergen	BUY	11319	45.23
2023-12-07	Kimberly K Ryan	BUY	3156	39.54
2023-12-07	Robert M Vanhimbergen	BUY	1255	39.74
2023-11-30	Helen W Cornell	BUY	6491	38.43
2023-06-15	J Michael Whitted	SELL	4000	51.5
2023-06-13	Ling An-heid	SELL	46444	52.45
2023-06-08	J Michael Whitted	SELL	4000	52.23
2023-05-26	Helen W Cornell	BUY	5200	48.65
2023-05-26	Ulrich Bartel	SELL	6642	48.6

4. Summary

4.1. Key Performance Indicators

The key performance indicators of Hillenbrand Inc compared to the Most Recent Quarter (MRQ).

	End of day	+/-	Most Recent Quarter	Trailing 12 Months	+/-	Year-Over-Year	+/-	5 Year	+/-	10 Year	+/-
Book Value Change Per Share	-	-	0.796	1.845	-57%	-0.017	+102%	0.686	+16%	0.393	+102%
Book Value Per Share	-	-	24.383	23.926	+2%	16.520	+48%	16.789	+45%	13.119	+86%
Current Ratio	-	-	1.282	1.283	0%	1.356	-6%	1.415	-9%	1.397	-8%
Debt To Asset Ratio	-	-	0.692	0.673	+3%	0.715	-3%	0.690	+0%	0.672	+3%
Debt To Equity Ratio	-	-	2.289	2.112	+8%	2.595	-12%	2.333	-2%	2.139	+7%
Dividend Per Share	-	-	0.221	0.219	+1%	0.215	+3%	0.211	+5%	0.197	+13%
Eps	-	-	0.244	1.928	-87%	0.718	-66%	0.754	-68%	0.571	-57%
Free Cash Flow Per Share	-	-	-0.516	0.435	-219%	0.297	-274%	0.792	-165%	0.711	-173%
Free Cash Flow To Equity Per Share	-	-	-0.759	0.658	-215%	1.753	-143%	1.536	-149%	0.854	-189%
Gross Profit Margin	-	-	1.000	1.000	0%	1.000	0%	1.000	0%	1.000	0%
Intrinsic Value_10Y_max	-	-	7.628	-	-	-	-	-	-	-	-
Intrinsic Value_10Y_min	-	-	-40.033	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_max	-	-	2.691	-	-	-	-	-	-	-	-
Intrinsic Value_1Y_min	-	-	1.690	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_max	-	-	6.618	-	-	-	-	-	-	-	-
Intrinsic Value_3Y_min	-	-	0.169	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_max	-	-	8.774	-	-	-	-	-	-	-	-
Intrinsic Value_5Y_min	-	-	-6.719	-	-	-	-	-	-	-	-
Market Cap	3368689436.000	0%	3373425000.000	3323894763.500	+1%	2944810576.500	+15%	2892516169.100	+17%	2702518981.000	+25%
Net Profit Margin	-	-	0.022	0.035	-37%	0.064	-65%	0.046	-52%	0.057	-61%
Operating Margin	-	-	0.077	0.105	-27%	0.119	-36%	0.110	-30%	0.117	-34%
Operating Ratio	-	-	0.923	0.898	+3%	0.885	+4%	0.891	+4%	0.883	+5%
Pb Ratio	1.969	+0%	1.962	1.974	-1%	2.488	-21%	2.450	-20%	3.111	-37%
Pe Ratio	49.207	+0%	49.032	28.155	+74%	14.476	+239%	3.120	+1472%	10.952	+348%
Price Per Share	48.020	+0%	47.850	47.243	+1%	41.130	+16%	39.978	+20%	37.897	+26%
Price To Free Cash Flow Ratio	-23.251	0%	-23.169	7.165	-423%	-21.952	-5%	10.938	-312%	11.501	-301%
Price To Total Gains Ratio	47.216	+0%	47.049	-19.132	+141%	-4583.904	+9843%	-895.634	+2004%	-498462239608540.688	+1059449745583073%
Quick Ratio	-	-	0.681	0.793	-14%	0.734	-7%	0.852	-20%	0.859	-21%
Return On Assets	-	-	0.003	0.005	-40%	0.012	-73%	0.009	-65%	0.012	-73%
Return On Equity	-	-	0.010	0.016	-35%	0.041	-75%	0.027	-62%	0.035	-70%
Total Gains Per Share	-	-	1.017	2.064	-51%	0.198	+413%	0.897	+13%	0.590	+72%
Usd Book Value	-	-	1719000000.000	1683550000.000	+2%	1182225000.000	+45%	1214265000.000	+42%	938547500.000	+83%
Usd Book Value Change Per Share	-	-	0.796	1.845	-57%	-0.017	+102%	0.686	+16%	0.393	+102%
Usd Book Value Per Share	-	-	24.383	23.926	+2%	16.520	+48%	16.789	+45%	13.119	+86%
Usd Dividend Per Share	-	-	0.221	0.219	+1%	0.215	+3%	0.211	+5%	0.197	+13%
Usd Eps	-	-	0.244	1.928	-87%	0.718	-66%	0.754	-68%	0.571	-57%
Usd Free Cash Flow	-	-	-36400000.000	30550000.000	-219%	21275000.000	-271%	58545000.000	-162%	51375000.000	-171%
Usd Free Cash Flow Per Share	-	-	-0.516	0.435	-219%	0.297	-274%	0.792	-165%	0.711	-173%
Usd Free Cash Flow To Equity Per Share	-	-	-0.759	0.658	-215%	1.753	-143%	1.536	-149%	0.854	-189%
Usd Market Cap	3368689436.000	0%	3373425000.000	3323894763.500	+1%	2944810576.500	+15%	2892516169.100	+17%	2702518981.000	+25%
Usd Price Per Share	48.020	+0%	47.850	47.243	+1%	41.130	+16%	39.978	+20%	37.897	+26%
Usd Profit	-	-	17200000.000	25700000.000	-33%	46675000.000	-63%	31065000.000	-45%	29150000.000	-41%
Usd Revenue	-	-	773300000.000	735900000.000	+5%	717050000.000	+8%	665950000.000	+16%	537677500.000	+44%
Usd Total Gains Per Share	-	-	1.017	2.064	-51%	0.198	+413%	0.897	+13%	0.590	+72%
	EOD	+3 -5	MRQ	TTM	+12 -23	YOY	+18 -17	5Y	+17 -18	10Y	+16 -19

4.2. Fundamental Score

Let's check the fundamental score of Hillenbrand Inc based on Penke's default stock scanner.

Penke's Stock Scanner

Indicator	Condition		Value
Price to Earnings Ratio (EOD)	Between	0-15	49.207
Price to Book Ratio (EOD)	Between	0-1	1.969
Net Profit Margin (MRQ)	Greater than	0	0.022
Operating Margin (MRQ)	Greater than	0	0.077
Quick Ratio (MRQ)	Greater than	1	0.681
Current Ratio (MRQ)	Greater than	1	1.282
Debt to Asset Ratio (MRQ)	Less than	1	0.692
Debt to Equity Ratio (MRQ)	Less than	1	2.289
Return on Equity (MRQ)	Greater than	0.15	0.010
Return on Assets (MRQ)	Greater than	0.05	0.003
Total			4/10 (40.0%)

Create your own Stock Scanner

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4.3. Technical Score

Let's check the technical score of Hillenbrand Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	50.390
Ma 20	Greater than	Ma 50	48.406
Ma 50	Greater than	Ma 100	47.822
Ma 100	Greater than	Ma 200	46.090
Open	Greater than	Close	47.100
Total			4/5 (80.0%)

Create your own Symbol Scanner

Trading is personal. The best traders buy and sell based on their own technical analysis. Create your personal Symbol Scanner with the technical indicators that are important to you.
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Latest Balance Sheet

Balance Sheet of 2023-12-31. Currency in USD. All numbers in thousands.

Summary

Total Assets	5,584,900
Total Liabilities	3,865,900
Total Stockholder Equity	1,688,600

	As reported
Total Liabilities	3,865,900
Total Stockholder Equity	+ 1,688,600
Total Assets	= 5,584,900

Assets

Total Assets	5,584,900
Total Current Assets	1,577,500
Long-term Assets	4,007,400

Total Current Assets

Total Current Assets (as reported)	1,577,500
Cash And Cash Equivalents	198,400
Net Receivables	639,700
Inventory	607,500
Other Current Assets	131,900
Total Current Assets (calculated)	1,577,500
+/-	0

Long-term Assets

Long-term Assets (as reported)	4,007,400
Property Plant Equipment	453,400
Goodwill	2,061,500
Intangible Assets	1,386,500
Long-term Assets Other	106,000
Long-term Assets (calculated)	4,007,400
+/-	0

Liabilities & Shareholders' Equity

Total Current Liabilities	1,230,800
Long-term Liabilities	2,635,100
Total Stockholder Equity	1,688,600

Total Current Liabilities

Total Current Liabilities (as reported)	1,230,800
Short-term Debt	20,300
Short Long Term Debt	20,300
Accounts payable	422,100
Other Current Liabilities	401,300
Total Current Liabilities (calculated)	864,000
+/-	366,800

Long-term Liabilities

Long-term Liabilities (as reported)	2,635,100
Long term Debt	2,021,500
Capital Lease Obligations	92,000
Long-term Liabilities Other	70,900
Long-term Liabilities (calculated)	2,184,400
+/-	450,700

Total Stockholder Equity

Total Stockholder Equity (as reported)	1,688,600
Retained Earnings	1,321,000
Accumulated Other Comprehensive Income	-90,900
Other Stockholders Equity	458,500
Total Stockholder Equity (calculated)	1,688,600
+/-	0

Other

Cash and Short Term Investments	198,400
Common Stock Shares Outstanding	70,500
Current Deferred Revenue	387,100
Liabilities and Stockholders Equity	5,584,900
Net Debt	1,935,400
Net Invested Capital	3,730,400
Net Working Capital	346,700
Property Plant and Equipment Gross	696,400
Short Long Term Debt Total	2,133,800

Balance Sheet

Currency in USD. All numbers in thousands.

Trend

2023-12-31

2023-09-30

2023-06-30

2023-03-31

2022-12-31

2022-09-30

2022-06-30

2022-03-31

2021-12-31

2021-09-30

2021-06-30

2021-03-31

2020-12-31

2020-09-30

2020-06-30

2020-03-31

2019-12-31

2019-09-30

2019-06-30

2019-03-31

2018-12-31

2018-09-30

2018-06-30

2018-03-31

2017-12-31

2017-09-30

2017-06-30

2017-03-31

2016-12-31

2016-09-30

2016-06-30

2016-03-31

2015-12-31

2015-09-30

2015-06-30

2015-03-31

2014-12-31

2014-09-30

2014-06-30

2014-03-31

2013-12-31

2013-09-30

2013-06-30

2013-03-31

2012-12-31

2012-09-30

2012-06-30

2012-03-31

2011-12-31

2011-09-30

2011-06-30

2011-03-31

2010-12-31

2010-09-30

2010-06-30

2010-03-31

2009-12-31

2009-09-30

2009-06-30

2009-03-31

2008-12-31

2008-09-30

2008-06-30

2008-03-31

2007-12-31

2007-09-30

2007-06-30

2007-03-31

2006-12-31

2006-09-30

> Total Assets

329,400
0
0
0
316,600
322,000
698,800
566,400
545,300
553,100
569,500
540,600
561,100
535,700
610,100
1,034,400
1,052,100
1,094,400
1,119,900
1,010,200
1,180,700
1,165,600
1,121,900
1,057,500
1,087,500
2,033,000
1,964,100
1,956,900
2,003,200
2,003,900
1,994,100
1,991,400
1,918,500
1,884,200
1,788,300
1,804,800
1,808,100
1,842,800
1,991,000
1,939,700
1,960,900
1,877,700
1,893,200
1,954,100
1,956,500
2,009,100
1,989,400
1,933,600
1,864,600
1,870,200
1,885,500
1,890,600
2,228,600
4,420,700
4,190,700
4,029,900
3,987,400
4,015,300
3,917,100
4,037,400
4,014,900
3,994,600
4,065,000
3,893,700
3,867,500
4,885,900
4,830,500
4,733,800
5,547,700
5,584,900

5,584,900

5,547,700

4,733,800

4,830,500

4,885,900

3,867,500

3,893,700

4,065,000

3,994,600

4,014,900

4,037,400

3,917,100

4,015,300

3,987,400

4,029,900

4,190,700

4,420,700

2,228,600

1,890,600

1,885,500

1,870,200

1,864,600

1,933,600

1,989,400

2,009,100

1,956,500

1,954,100

1,893,200

1,877,700

1,960,900

1,939,700

1,991,000

1,842,800

1,808,100

1,804,800

1,788,300

1,884,200

1,918,500

1,991,400

1,994,100

2,003,900

2,003,200

1,956,900

1,964,100

2,033,000

1,087,500

1,057,500

1,121,900

1,165,600

1,180,700

1,010,200

1,119,900

1,094,400

1,052,100

1,034,400

610,100

535,700

561,100

540,600

569,500

553,100

545,300

566,400

698,800

322,000

316,600

329,400

> Total Current Assets

0
0
0
0
170,200
178,200
388,700
196,800
181,600
193,200
212,300
187,000
232,900
209,400
282,500
317,600
322,800
361,200
397,400
428,500
380,100
378,600
337,900
276,500
305,300
665,700
637,000
639,300
639,400
630,500
625,300
645,900
637,800
629,100
592,400
591,900
604,100
575,700
587,400
562,800
600,300
560,200
577,400
609,500
593,600
646,700
680,700
669,500
610,600
613,400
650,400
658,200
1,023,200
1,222,100
1,364,100
1,244,500
1,369,700
1,355,300
1,317,800
1,441,400
1,434,500
1,421,000
1,510,000
1,404,200
1,402,900
1,753,300
1,657,300
1,583,300
1,607,600
1,577,500

1,577,500

1,607,600

1,583,300

1,657,300

1,753,300

1,402,900

1,404,200

1,510,000

1,421,000

1,434,500

1,441,400

1,317,800

1,355,300

1,369,700

1,244,500

1,364,100

1,222,100

1,023,200

658,200

650,400

613,400

610,600

669,500

680,700

646,700

593,600

609,500

577,400

560,200

600,300

562,800

587,400

575,700

604,100

591,900

592,400

629,100

637,800

645,900

625,300

630,500

639,400

639,300

637,000

665,700

305,300

276,500

337,900

378,600

380,100

428,500

397,400

361,200

322,800

317,600

282,500

209,400

232,900

187,000

212,300

193,200

181,600

196,800

388,700

178,200

170,200

Cash And Cash Equivalents

7,900
0
0
0
11,900
11,800
125,900
33,000
14,700
20,300
43,200
28,800
35,200
4,100
72,900
82,200
98,400
136,000
160,300
198,300
115,500
122,500
60,100
16,000
20,200
102,100
40,700
41,100
42,700
62,300
51,000
61,700
58,000
52,000
43,000
45,600
48,300
55,100
43,200
47,600
52,000
46,600
51,400
71,500
66,000
77,800
68,500
71,100
56,000
64,800
58,600
64,400
399,000
142,400
374,000
263,100
302,200
265,800
344,900
476,200
446,100
447,400
444,800
284,400
234,100
193,900
315,100
290,500
242,900
198,400

198,400

242,900

290,500

315,100

193,900

234,100

284,400

444,800

447,400

446,100

476,200

344,900

265,800

302,200

263,100

374,000

142,400

399,000

64,400

58,600

64,800

56,000

71,100

68,500

77,800

66,000

71,500

51,400

46,600

52,000

47,600

43,200

55,100

48,300

45,600

43,000

52,000

58,000

61,700

51,000

62,300

42,700

41,100

40,700

102,100

20,200

16,000

60,100

122,500

115,500

198,300

160,300

136,000

98,400

82,200

72,900

4,100

35,200

28,800

43,200

20,300

14,700

33,000

125,900

11,800

11,900

7,900

Short-term Investments

0
0
0
0
0
0
55,300
0
0
0
0
0
30,100
29,900
29,700
13,700
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
800
800
3,300
3,400
800
500
500
500
500
500
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
410,600
0

410,600

500

800

3,400

3,300

800

13,700

29,700

29,900

30,100

55,300

Net Receivables

0
0
0
0
90,900
93,400
117,200
85,600
88,400
96,500
91,000
84,600
95,200
98,300
98,000
114,300
119,000
124,500
129,500
109,200
131,700
121,900
134,500
118,900
150,700
298,600
316,900
321,700
355,500
320,600
322,500
323,600
340,300
327,100
306,600
303,800
332,800
293,700
318,400
283,000
330,800
317,100
332,300
332,500
331,300
354,500
374,100
370,200
338,800
324,700
364,300
357,400
398,500
550,200
480,100
463,400
417,600
465,900
442,600
417,800
445,400
446,400
479,500
501,800
525,600
596,900
634,000
598,700
658,900
639,700

639,700

658,900

598,700

634,000

596,900

525,600

501,800

479,500

446,400

445,400

417,800

442,600

465,900

417,600

463,400

480,100

550,200

398,500

357,400

364,300

324,700

338,800

370,200

374,100

354,500

331,300

332,500

332,300

317,100

330,800

283,000

318,400

293,700

332,800

303,800

306,600

327,100

340,300

323,600

322,500

320,600

355,500

321,700

316,900

298,600

150,700

118,900

134,500

121,900

131,700

109,200

129,500

124,500

119,000

114,300

98,000

98,300

95,200

84,600

91,000

96,500

88,400

85,600

117,200

93,400

90,900

Other Current Assets

19,900
0
0
0
3,900
7,300
6,900
9,100
7,500
8,300
11,200
10,700
8,400
34,600
10,800
16,700
15,400
7,400
13,000
22,300
20,900
15,400
28,800
24,300
24,800
42,600
54,800
23,800
21,000
16,700
19,600
20,100
21,500
19,500
17,800
20,100
23,700
20,300
18,000
17,800
22,300
23,400
20,000
19,400
16,500
16,900
23,200
16,900
18,100
17,100
19,600
20,100
22,400
87,400
86,700
93,700
83,200
85,100
82,600
75,100
75,200
85,500
104,500
111,900
109,400
132,900
119,900
125,700
113,200
131,900

131,900

113,200

125,700

119,900

132,900

109,400

111,900

104,500

85,500

75,200

75,100

82,600

85,100

83,200

93,700

86,700

87,400

22,400

20,100

19,600

17,100

18,100

16,900

23,200

16,900

16,500

19,400

20,000

23,400

22,300

17,800

18,000

20,300

23,700

20,100

17,800

19,500

21,500

20,100

19,600

16,700

21,000

23,800

54,800

42,600

24,800

24,300

28,800

15,400

20,900

22,300

13,000

7,400

15,400

16,700

10,800

34,600

8,400

10,700

11,200

8,300

7,500

9,100

6,900

7,300

3,900

19,900

> Long-term Assets

0
0
0
0
146,400
143,800
310,100
369,600
363,700
359,900
357,200
353,600
328,200
326,300
327,600
716,800
729,300
733,200
722,500
581,700
800,600
787,000
784,000
781,000
782,200
1,367,300
1,327,100
1,317,600
1,363,800
1,373,400
1,368,800
1,345,500
1,280,700
1,255,100
1,195,900
1,212,900
1,204,000
1,267,100
1,403,600
1,376,900
1,360,600
1,317,500
1,315,800
1,344,600
1,362,900
1,362,400
1,308,700
1,264,100
1,254,000
1,256,800
1,235,100
1,232,400
1,205,400
3,198,600
2,826,600
2,785,400
2,617,700
2,660,000
2,599,300
2,596,000
2,580,300
2,573,600
2,555,000
2,489,500
2,464,600
3,132,600
3,173,200
3,150,500
3,940,100
4,007,400

4,007,400

3,940,100

3,150,500

3,173,200

3,132,600

2,464,600

2,489,500

2,555,000

2,573,600

2,580,300

2,596,000

2,599,300

2,660,000

2,617,700

2,785,400

2,826,600

3,198,600

1,205,400

1,232,400

1,235,100

1,256,800

1,254,000

1,264,100

1,308,700

1,362,400

1,362,900

1,344,600

1,315,800

1,317,500

1,360,600

1,376,900

1,403,600

1,267,100

1,204,000

1,212,900

1,195,900

1,255,100

1,280,700

1,345,500

1,368,800

1,373,400

1,363,800

1,317,600

1,327,100

1,367,300

782,200

781,000

784,000

787,000

800,600

581,700

722,500

733,200

729,300

716,800

327,600

326,300

328,200

353,600

357,200

359,900

363,700

369,600

310,100

143,800

146,400

Property Plant Equipment

88,900
0
0
0
88,900
87,500
93,700
91,200
90,800
89,000
87,900
86,500
85,300
100,300
84,500
111,200
109,600
108,700
108,700
108,400
120,600
119,200
116,200
117,000
117,900
172,400
168,300
168,000
171,900
171,900
170,400
169,400
159,500
157,900
152,700
155,500
158,300
158,000
158,500
154,400
152,500
146,000
145,400
147,600
150,400
145,600
146,100
141,800
142,000
140,200
137,600
136,600
140,300
570,600
513,700
493,000
468,600
460,600
447,000
440,700
433,200
416,000
417,300
409,200
404,500
391,200
403,200
402,300
432,000
453,400

453,400

432,000

402,300

403,200

391,200

404,500

409,200

417,300

416,000

433,200

440,700

447,000

460,600

468,600

493,000

513,700

570,600

140,300

136,600

137,600

140,200

142,000

141,800

146,100

145,600

150,400

147,600

145,400

146,000

152,500

154,400

158,500

158,000

158,300

155,500

152,700

157,900

159,500

169,400

170,400

171,900

168,000

168,300

172,400

117,900

117,000

116,200

119,200

120,600

108,400

108,700

109,600

111,200

84,500

100,300

85,300

86,500

87,900

89,000

90,800

91,200

93,700

87,500

88,900

Goodwill

3,000
0
0
0
5,800
5,700
0
0
5,800
0
0
0
5,800
0
0
182,000
196,400
0
0
0
300,000
297,600
300,600
303,300
303,700
542,800
532,200
535,900
585,800
599,400
598,000
596,100
570,700
558,700
535,800
548,900
544,000
569,200
642,600
635,800
634,300
616,300
620,000
639,100
647,500
651,200
602,600
583,200
581,900
587,300
583,000
586,800
578,000
1,256,900
1,133,500
1,143,100
1,137,800
1,185,900
1,165,900
1,175,800
1,168,600
1,165,900
1,159,900
1,132,500
1,159,400
1,562,700
1,561,200
1,561,400
2,028,100
2,061,500

2,061,500

2,028,100

1,561,400

1,561,200

1,562,700

1,159,400

1,132,500

1,159,900

1,165,900

1,168,600

1,175,800

1,165,900

1,185,900

1,137,800

1,143,100

1,133,500

1,256,900

578,000

586,800

583,000

587,300

581,900

583,200

602,600

651,200

647,500

639,100

620,000

616,300

634,300

635,800

642,600

569,200

544,000

548,900

535,800

558,700

570,700

596,100

598,000

599,400

585,800

535,900

532,200

542,800

303,700

303,300

300,600

297,600

300,000

196,400

182,000

5,800

5,700

5,800

3,000

Long Term Investments

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
18,300
153,000
154,900
159,500
17,100
17,400
15,600
0
0
0
0
0
0
0
0
0
0
0
0
0
0
8,300
0
0
0
7,600
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

7,600

8,300

15,600

17,400

17,100

159,500

154,900

153,000

18,300

Intangible Assets

22,200
0
0
0
23,000
22,000
21,300
20,700
19,700
67,100
18,000
17,200
10,500
15,800
15,300
226,000
226,600
425,200
423,700
425,900
332,800
324,100
321,300
314,300
313,900
604,700
573,700
558,500
558,600
556,100
548,800
539,300
510,500
493,700
464,800
467,700
459,600
499,800
563,900
548,400
541,500
519,900
516,200
524,300
523,900
523,100
517,800
496,100
487,300
490,600
477,300
471,100
454,900
1,317,700
1,101,300
1,093,600
960,700
965,900
939,100
931,200
913,800
900,200
885,100
849,300
810,700
1,095,100
1,112,300
1,085,600
1,377,100
1,386,500

1,386,500

1,377,100

1,085,600

1,112,300

1,095,100

810,700

849,300

885,100

900,200

913,800

931,200

939,100

965,900

960,700

1,093,600

1,101,300

1,317,700

454,900

471,100

477,300

490,600

487,300

496,100

517,800

523,100

523,900

524,300

516,200

519,900

541,500

548,400

563,900

499,800

459,600

467,700

464,800

493,700

510,500

539,300

548,800

556,100

558,600

558,500

573,700

604,700

313,900

314,300

321,300

324,100

332,800

425,900

423,700

425,200

226,600

226,000

15,300

15,800

10,500

17,200

18,000

67,100

19,700

20,700

21,300

22,000

23,000

22,200

Long-term Assets Other

0
0
0
0
16,700
16,600
184,300
93,400
233,500
158,400
162,700
160,900
154,000
142,000
160,100
24,100
31,800
144,700
146,600
30,300
29,800
1,700
45,900
46,400
30,900
47,400
52,900
55,200
47,500
46,000
51,600
40,700
40,000
44,800
42,600
40,800
42,100
40,100
38,600
38,300
32,300
35,300
34,200
33,600
41,100
42,500
42,200
43,000
42,800
38,700
37,200
37,900
32,200
53,400
78,100
55,700
50,600
47,600
47,300
48,300
64,700
91,500
92,700
-83,700
90,000
-207,500
-201,100
101,200
102,900
106,000

106,000

102,900

101,200

-201,100

-207,500

90,000

-83,700

92,700

91,500

64,700

48,300

47,300

47,600

50,600

55,700

78,100

53,400

32,200

37,900

37,200

38,700

42,800

43,000

42,200

42,500

41,100

33,600

34,200

35,300

32,300

38,300

38,600

40,100

42,100

40,800

42,600

44,800

40,000

40,700

51,600

46,000

47,500

55,200

52,900

47,400

30,900

46,400

45,900

1,700

29,800

30,300

146,600

144,700

31,800

24,100

160,100

142,000

154,000

160,900

162,700

158,400

233,500

93,400

184,300

16,600

16,700

Deferred Long Term Asset Charges

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
33,300
29,600
22,300
23,400
15,000
23,400
0
33,200
28,700
30,100
0
19,300
21,500
28,500
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

28,500

21,500

19,300

30,100

28,700

33,200

23,400

15,000

23,400

22,300

29,600

33,300

> Total Liabilities

136,900
0
0
0
135,700
138,200
429,800
281,400
256,900
256,200
259,600
214,700
257,100
210,800
261,900
685,100
680,200
693,900
689,000
545,900
737,600
707,200
635,700
569,100
581,200
1,504,400
1,451,100
1,437,000
1,426,900
1,397,100
1,373,300
1,350,500
1,324,700
1,295,300
1,215,900
1,186,400
1,202,300
1,245,200
1,357,800
1,303,700
1,314,700
1,227,200
1,221,400
1,243,200
1,190,600
1,240,600
1,257,400
1,222,100
1,120,500
1,122,800
1,115,400
1,094,800
1,458,800
3,276,900
3,163,700
2,974,800
2,908,000
2,809,000
2,681,400
2,785,000
2,782,700
2,740,000
2,787,200
2,743,400
2,759,500
3,693,100
3,163,700
3,048,300
3,884,800
3,865,900

3,865,900

3,884,800

3,048,300

3,163,700

3,693,100

2,759,500

2,743,400

2,787,200

2,740,000

2,782,700

2,785,000

2,681,400

2,809,000

2,908,000

2,974,800

3,163,700

3,276,900

1,458,800

1,094,800

1,115,400

1,122,800

1,120,500

1,222,100

1,257,400

1,240,600

1,190,600

1,243,200

1,221,400

1,227,200

1,314,700

1,303,700

1,357,800

1,245,200

1,202,300

1,186,400

1,215,900

1,295,300

1,324,700

1,350,500

1,373,300

1,397,100

1,426,900

1,437,000

1,451,100

1,504,400

581,200

569,100

635,700

707,200

737,600

545,900

689,000

693,900

680,200

685,100

261,900

210,800

257,100

214,700

259,600

256,200

256,900

281,400

429,800

138,200

135,700

136,900

> Total Current Liabilities

77,000
0
0
0
75,800
74,900
352,400
195,300
186,000
183,500
188,800
149,600
134,900
87,300
139,900
162,300
118,000
111,600
109,500
115,600
136,200
119,100
331,500
134,900
151,800
439,600
434,300
437,000
465,500
449,800
457,200
477,700
491,100
401,500
386,200
396,600
404,200
355,000
377,500
401,100
433,700
385,200
409,100
437,700
511,700
522,000
530,800
549,500
531,700
510,500
505,800
526,300
589,300
879,800
805,200
769,000
852,100
875,500
920,500
1,023,000
1,035,100
1,029,400
1,074,300
1,054,700
1,077,800
1,263,900
1,313,800
1,179,300
1,291,000
1,230,800

1,230,800

1,291,000

1,179,300

1,313,800

1,263,900

1,077,800

1,054,700

1,074,300

1,029,400

1,035,100

1,023,000

920,500

875,500

852,100

769,000

805,200

879,800

589,300

526,300

505,800

510,500

531,700

549,500

530,800

522,000

511,700

437,700

409,100

385,200

433,700

401,100

377,500

355,000

404,200

396,600

386,200

401,500

491,100

477,700

457,200

449,800

465,500

437,000

434,300

439,600

151,800

134,900

331,500

119,100

136,200

115,600

109,500

111,600

118,000

162,300

139,900

87,300

134,900

149,600

188,800

183,500

186,000

195,300

352,400

74,900

75,800

77,000

Short-term Debt

0
0
0
0
0
0
250,000
110,000
100,000
100,000
115,000
80,000
60,000
0
29,700
13,600
41,300
20,100
27,500
0
46,500
19,700
199,000
0
51,400
10,000
10,000
10,000
10,000
11,200
13,500
14,500
15,000
9,000
9,000
11,200
9,400
10,100
12,000
12,400
13,800
16,400
16,200
16,900
18,800
3,800
700
66,800
71,900
53,500
1,700
1,200
73,200
42,100
46,700
36,300
36,300
28,100
95,600
105,600
123,500
83,800
0
0
28,700
10,000
10,000
10,000
19,700
20,300

20,300

19,700

10,000

28,700

83,800

123,500

105,600

95,600

28,100

36,300

46,700

42,100

73,200

1,200

1,700

53,500

71,900

66,800

700

3,800

18,800

16,900

16,200

16,400

13,800

12,400

12,000

10,100

9,400

11,200

9,000

15,000

14,500

13,500

11,200

10,000

51,400

199,000

19,700

46,500

27,500

20,100

41,300

13,600

29,700

60,000

80,000

115,000

100,000

110,000

250,000

Short Long Term Debt

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
15,000
0
0
0
9,400
0
12,000
12,400
13,800
16,400
16,200
595,300
18,800
3,800
700
424,400
0
0
1,700
1,200
0
42,100
46,700
36,300
36,300
28,100
0
0
0
0
0
0
0
10,000
10,000
10,000
19,700
20,300

20,300

19,700

10,000

28,100

36,300

46,700

42,100

1,200

1,700

424,400

700

3,800

18,800

595,300

16,200

16,400

13,800

12,400

12,000

9,400

15,000

Accounts payable

18,000
0
0
0
18,300
17,600
19,800
14,100
15,800
10,800
14,400
12,800
13,100
17,000
17,400
22,800
26,900
22,400
25,600
25,600
30,500
26,100
29,100
33,800
35,300
180,000
175,300
178,800
181,400
169,600
177,700
178,000
192,600
140,100
118,000
115,200
104,300
101,700
105,600
112,700
135,700
120,300
132,300
141,700
158,000
152,000
175,200
173,100
196,800
196,000
207,700
224,500
236,200
349,000
297,900
264,900
271,600
274,200
293,800
329,300
361,300
389,400
428,400
438,700
433,000
397,300
413,000
402,300
451,500
422,100

422,100

451,500

402,300

413,000

397,300

433,000

438,700

428,400

389,400

361,300

329,300

293,800

274,200

271,600

264,900

297,900

349,000

236,200

224,500

207,700

196,000

196,800

173,100

175,200

152,000

158,000

141,700

132,300

120,300

135,700

112,700

105,600

101,700

104,300

115,200

118,000

140,100

192,600

178,000

177,700

169,600

181,400

178,800

175,300

180,000

35,300

33,800

29,100

26,100

30,500

25,600

22,400

26,900

22,800

17,400

17,000

13,100

12,800

14,400

10,800

15,800

14,100

19,800

17,600

18,300

18,000

Other Current Liabilities

59,000
0
0
0
57,500
57,300
40,700
28,500
47,800
31,500
16,800
15,800
40,300
70,300
47,800
64,300
28,300
40,100
28,800
90,000
30,900
37,000
76,200
101,100
45,500
176,500
171,000
176,200
193,200
171,900
169,200
184,700
207,400
176,500
179,900
196,700
210,800
173,000
188,000
200,400
205,600
171,000
170,000
181,200
202,600
195,000
189,100
133,100
137,100
125,200
171,300
191,400
121,700
305,600
284,000
299,400
355,100
359,100
265,500
263,200
253,700
251,900
346,000
362,900
325,800
464,300
500,100
404,400
431,300
401,300

401,300

431,300

404,400

500,100

464,300

325,800

362,900

346,000

251,900

253,700

263,200

265,500

359,100

355,100

299,400

284,000

305,600

121,700

191,400

171,300

125,200

137,100

133,100

189,100

195,000

202,600

181,200

170,000

171,000

205,600

200,400

188,000

173,000

210,800

196,700

179,900

176,500

207,400

184,700

169,200

171,900

193,200

176,200

171,000

176,500

45,500

101,100

76,200

37,000

30,900

90,000

28,800

40,100

28,300

64,300

47,800

70,300

40,300

15,800

16,800

31,500

47,800

28,500

40,700

57,300

57,500

59,000

> Long-term Liabilities

0
0
0
0
59,900
63,300
77,400
86,100
70,900
72,700
70,800
65,100
122,200
123,500
122,000
522,800
562,200
582,300
579,500
430,300
601,400
588,100
304,200
434,200
429,400
1,064,800
1,016,800
1,000,000
961,400
947,300
916,100
872,800
833,600
893,800
829,700
789,800
798,100
890,200
980,300
902,600
881,000
842,000
812,300
805,500
678,900
718,600
726,600
672,600
588,800
612,300
609,600
568,500
869,500
2,397,100
2,358,500
2,205,800
2,055,900
1,933,500
1,760,900
1,762,000
1,747,600
1,710,600
1,712,900
1,688,700
1,681,700
2,429,200
1,849,900
1,869,000
2,593,800
2,635,100

2,635,100

2,593,800

1,869,000

1,849,900

2,429,200

1,681,700

1,688,700

1,712,900

1,710,600

1,747,600

1,762,000

1,760,900

1,933,500

2,055,900

2,205,800

2,358,500

2,397,100

869,500

568,500

609,600

612,300

588,800

672,600

726,600

718,600

678,900

805,500

812,300

842,000

881,000

902,600

980,300

890,200

798,100

789,800

829,700

893,800

833,600

872,800

916,100

947,300

961,400

1,000,000

1,016,800

1,064,800

429,400

434,200

304,200

588,100

601,400

430,300

579,500

582,300

562,200

522,800

122,000

123,500

122,200

65,100

70,800

72,700

70,900

86,100

77,400

63,300

59,900

Long term Debt Total

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
375,000
403,400
423,400
423,400
272,500
431,500
431,500
148,600
273,600
271,600
757,700
709,600
701,300
654,300
640,500
612,600
582,100
543,500
608,100
561,800
519,100
518,700
612,900
700,000
624,600
596,300
637,900
606,400
578,400
446,900
477,000
478,400
424,400
344,600
364,800
361,700
323,200
619,500
1,822,600
1,826,600
1,674,800
1,516,300
1,368,300
1,211,900
1,212,400
1,212,900
1,213,400
1,214,000
1,214,600
1,222,100
1,890,400
1,303,900
1,329,300
0
0

1,329,300

1,303,900

1,890,400

1,222,100

1,214,600

1,214,000

1,213,400

1,212,900

1,212,400

1,211,900

1,368,300

1,516,300

1,674,800

1,826,600

1,822,600

619,500

323,200

361,700

364,800

344,600

424,400

478,400

477,000

446,900

578,400

606,400

637,900

596,300

624,600

700,000

612,900

518,700

519,100

561,800

608,100

543,500

582,100

612,600

640,500

654,300

701,300

709,600

757,700

271,600

273,600

148,600

431,500

272,500

423,400

403,400

375,000

Capital Lease Obligations Min Short Term Debt

0
0
0
0
0
0
-250,000
-110,000
-100,000
-100,000
-115,000
-80,000
-60,000
0
-29,700
-13,600
-41,300
-20,100
-27,500
0
-46,500
-19,700
-199,000
0
-51,400
-10,000
-10,000
-10,000
-10,000
-11,200
-13,500
-14,500
-15,000
-9,000
-9,000
-11,200
-9,400
-10,100
-12,000
-12,400
-13,800
-16,400
-16,200
-16,900
-18,800
-3,800
-700
-66,800
-71,900
-53,500
-1,700
-1,200
-73,200
95,000
84,100
89,900
84,600
91,800
20,800
7,200
-17,900
13,100
104,400
96,700
63,900
72,300
73,200
73,000
68,400
71,700

71,700

68,400

73,000

73,200

72,300

63,900

96,700

104,400

13,100

-17,900

7,200

20,800

91,800

84,600

89,900

84,100

95,000

-73,200

-1,200

-1,700

-53,500

-71,900

-66,800

-700

-3,800

-18,800

-16,900

-16,200

-16,400

-13,800

-12,400

-12,000

-10,100

-9,400

-11,200

-9,000

-15,000

-14,500

-13,500

-11,200

-10,000

-51,400

-199,000

-19,700

-46,500

-27,500

-20,100

-41,300

-13,600

-29,700

-60,000

-80,000

-115,000

-100,000

-110,000

-250,000

Deferred Long Term Asset Charges

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
33,300
29,600
22,300
23,400
15,000
23,400
0
33,200
28,700
30,100
0
19,300
21,500
28,500
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

28,500

21,500

19,300

30,100

28,700

33,200

23,400

15,000

23,400

22,300

29,600

33,300

Long-term Liabilities Other

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
36,400
123,100
123,700
122,300
123,800
139,800
137,000
137,100
136,500
136,100
270,900
274,700
268,500
231,700
193,000
191,200
187,700
200,900
232,000
218,800
221,700
218,700
245,700
247,600
246,100
232,700
167,300
160,500
165,500
129,600
184,500
186,200
181,600
120,500
169,800
168,500
174,500
131,300
222,000
344,400
343,400
166,800
240,600
349,700
71,800
70,800
306,800
308,200
291,900
55,500
136,100
140,400
143,100
62,700
70,900

70,900

62,700

143,100

140,400

136,100

55,500

291,900

308,200

306,800

70,800

71,800

349,700

240,600

166,800

343,400

344,400

222,000

131,300

174,500

168,500

169,800

120,500

181,600

186,200

184,500

129,600

165,500

160,500

167,300

232,700

246,100

247,600

245,700

218,700

221,700

218,800

232,000

200,900

187,700

191,200

193,000

231,700

268,500

274,700

270,900

136,100

136,500

137,100

137,000

139,800

123,800

122,300

123,700

123,100

36,400

Deferred Long Term Liability

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
28,300
35,700
35,200
33,800
34,000
30,100
19,600
18,500
24,100
21,700
36,200
32,500
30,200
75,400
74,000
71,500
69,900
55,400
53,700
49,100
49,000
29,400
31,600
32,700
31,900
22,600
36,800
45,400
61,600
75,700
57,100
62,000
66,600
76,400
77,700
79,400
70,800
73,600
215,400
187,500
187,600
0
204,700
0
0
206,700
0
0
0
210,200
291,100
297,600
288,400
0
0

288,400

297,600

291,100

210,200

206,700

204,700

187,600

187,500

215,400

73,600

70,800

79,400

77,700

76,400

66,600

62,000

57,100

75,700

61,600

45,400

36,800

22,600

31,900

32,700

31,600

29,400

49,000

49,100

53,700

55,400

69,900

71,500

74,000

75,400

30,200

32,500

36,200

21,700

24,100

18,500

19,600

30,100

34,000

33,800

35,200

35,700

28,300

> Total Stockholder Equity

192,500
0
0
0
180,900
183,800
269,000
285,000
288,400
296,900
309,900
325,900
304,000
324,900
348,200
349,300
371,900
400,500
430,900
464,300
443,100
458,400
486,200
488,400
506,300
521,800
505,700
512,600
568,300
596,300
609,800
629,300
583,300
578,400
561,300
607,300
594,100
585,000
620,600
623,100
632,300
636,500
656,900
696,100
751,400
752,900
716,800
696,300
731,100
734,500
756,800
781,200
754,100
1,127,100
1,009,000
1,036,600
1,059,000
1,185,900
1,214,400
1,230,200
1,209,600
1,232,600
1,254,500
1,127,000
1,082,900
1,162,600
1,635,600
1,654,000
1,630,300
1,688,600

1,688,600

1,630,300

1,654,000

1,635,600

1,162,600

1,082,900

1,127,000

1,254,500

1,232,600

1,209,600

1,230,200

1,214,400

1,185,900

1,059,000

1,036,600

1,009,000

1,127,100

754,100

781,200

756,800

734,500

731,100

696,300

716,800

752,900

751,400

696,100

656,900

636,500

632,300

623,100

620,600

585,000

594,100

607,300

561,300

578,400

583,300

629,300

609,800

596,300

568,300

512,600

505,700

521,800

506,300

488,400

486,200

458,400

443,100

464,300

430,900

400,500

371,900

349,300

348,200

324,900

304,000

325,900

309,900

296,900

288,400

285,000

269,000

183,800

180,900

192,500

Common Stock

0
0
0
0
193,500
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0

193,500

Retained Earnings Total Equity

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
116,300
124,800
139,900
160,800
171,400
182,700
201,500
216,800
225,800
238,300
239,700
240,000
241,400
252,200
259,800
280,200
300,500
311,700
328,600
346,600
365,900
372,100
379,000
392,200
410,000
433,300
442,100
461,900
481,900
507,100
512,000
476,900
499,700
531,000
546,300
571,100
588,100
599,500
586,500
496,400
504,400
481,400
541,400
603,100
627,100
666,200
699,100
737,100
770,500
812,000
842,000
1,289,200
1,317,000
0
0

1,317,000

1,289,200

842,000

812,000

770,500

737,100

699,100

666,200

627,100

603,100

541,400

481,400

504,400

496,400

586,500

599,500

588,100

571,100

546,300

531,000

499,700

476,900

512,000

507,100

481,900

461,900

442,100

433,300

410,000

392,200

379,000

372,100

365,900

346,600

328,600

311,700

300,500

280,200

259,800

252,200

241,400

240,000

239,700

238,300

225,800

216,800

201,500

182,700

171,400

160,800

139,900

124,800

116,300

Accumulated Other Comprehensive Income

0
0
0
0
-12,600
-11,700
-14,300
-14,500
-14,800
-17,000
-20,900
-20,300
-55,400
-54,700
-53,300
-56,600
-43,000
-32,200
-27,400
-7,100
-39,500
-47,200
-38,300
-45,300
-42,400
-31,100
-51,000
-43,900
-1,400
10,000
10,500
7,500
-52,200
-71,900
-111,200
-87,400
-107,900
-121,700
-101,900
-116,500
-129,800
-145,800
-133,000
-106,600
-81,200
-74,500
-58,500
-83,700
-84,200
-94,300
-101,800
-98,500
-140,600
-126,700
-158,300
-142,600
-102,800
-40,700
-85,800
-55,200
-46,300
-42,400
-47,700
-101,200
-155,600
-108,900
-91,400
-114,900
-147,100
-90,900

-90,900

-147,100

-114,900

-91,400

-108,900

-155,600

-101,200

-47,700

-42,400

-46,300

-55,200

-85,800

-40,700

-102,800

-142,600

-158,300

-126,700

-140,600

-98,500

-101,800

-94,300

-84,200

-83,700

-58,500

-74,500

-81,200

-106,600

-133,000

-145,800

-129,800

-116,500

-101,900

-121,700

-107,900

-87,400

-111,200

-71,900

-52,200

7,500

10,500

10,000

-1,400

-43,900

-51,000

-31,100

-42,400

-45,300

-38,300

-47,200

-39,500

-7,100

-27,400

-32,200

-43,000

-56,600

-53,300

-54,700

-55,400

-20,300

-20,900

-17,000

-14,800

-14,500

-14,300

-11,700

-12,600

Capital Surplus

0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
304,600
304,900
307,300
311,200
313,400
317,000
318,600
320,200
319,900
321,900
318,700
320,100
317,600
321,700
328,100
340,700
341,600
342,100
342,700
346,100
348,700
350,900
348,400
351,300
350,400
348,700
344,100
346,600
348,000
349,900
344,100
346,400
348,500
351,400
341,700
343,100
345,300
345,300
712,900
716,300
719,700
723,600
717,200
720,500
722,900
725,400
714,800
717,300
719,500
723,800
706,500
704,700
706,900
0
0

706,900

704,700

706,500

723,800

719,500

717,300

714,800

725,400

722,900

720,500

717,200

723,600

719,700

716,300

712,900

345,300

343,100

341,700

351,400

348,500

346,400

344,100

349,900

348,000

346,600

344,100

348,700

350,400

351,300

348,400

350,900

348,700

346,100

342,700

342,100

341,600

340,700

328,100

321,700

317,600

320,100

318,700

321,900

319,900

320,200

318,600

317,000

313,400

311,200

307,300

304,900

304,600

Treasury Stock

-255,000

-266,900

-277,000

-297,300

-261,800

-152,200

-138,900

-135,700

-64,600

-23,400

-32,000

-43,200

-44,900

-45,400

-45,600

-50,100

-53,700

-55,600

-59,200

-67,100

-68,200

-48,000

-28,700

-24,400

-27,200

-18,600

-3,900

-19,900

-20,800

-21,000

-20,700

-21,000

-19,900

-20,200

-21,000

-18,300

-20,300

-21,600

-1,600

-4,200

-2,500

-3,400

-5,500

-11,500

-12,000

-12,500

-14,500

-17,100

-13,400

-13,700

-14,500

-14,800

-15,000

-15,400

-17,000

-17,500

-18,400

-12,500

-6,200

Other Stockholders Equity

0
0
0
0
0
195,500
283,300
284,300
280,200
275,800
276,600
278,000
280,100
282,600
286,800
289,600
290,100
292,800
297,500
300,000
299,900
304,100
307,700
307,900
310,400
313,200
316,700
315,100
317,500
326,500
319,100
321,300
323,800
321,700
325,900
328,800
329,900
327,700
330,300
329,600
328,800
340,200
328,000
320,800
325,500
315,400
298,400
280,300
284,300
282,500
287,500
291,600
295,200
667,300
670,900
674,800
680,400
685,200
697,100
658,300
589,700
575,900
565,100
457,700
426,500
429,500
437,800
451,900
457,800
458,500

458,500

457,800

451,900

437,800

429,500

426,500

457,700

565,100

575,900

589,700

658,300

697,100

685,200

680,400

674,800

670,900

667,300

295,200

291,600

287,500

282,500

284,300

280,300

298,400

315,400

325,500

320,800

328,000

340,200

328,800

329,600

330,300

327,700

329,900

328,800

325,900

321,700

323,800

321,300

319,100

326,500

317,500

315,100

316,700

313,200

310,400

307,900

307,700

304,100

299,900

300,000

297,500

292,800

290,100

289,600

286,800

282,600

280,100

278,000

276,600

275,800

280,200

284,300

283,300

195,500

Balance Sheet

Currency in USD. All numbers in thousands.

	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30	2008-09-30	2007-09-30	2006-09-30	2005-09-30	2004-09-30	2003-09-30	2002-09-30	2001-09-30	2000-09-30
Accounts Payable	451,500	433,000	361,300	271,600	236,200	196,800	158,000	135,700	104,300	192,600	181,400	35,300	30,500	26,900	13,100	15,800	18,300	91,700	0	0	0	0	0	0
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	-147,100	-155,600	-46,300	-102,800	-140,600	-84,200	-81,200	-129,800	-107,900	-52,200	-1,400	-42,400	-39,500	-43,000	-55,400	-14,800	-12,600	-300	0	0	0	0	0	0
Additional Paid In Capital	0	0	0	0	0	351,400	349,900	348,700	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	88,100	92,600	105,600	120,900	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	723,800	725,400	723,600	345,300	351,400	349,900	348,700	350,900	342,100	321,700	321,900	317,000	304,900	0	0	0	0	0	0	0	0	0	0
Cash	242,900	234,100	446,100	302,200	399,000	56,000	66,000	52,000	48,300	58,000	42,700	20,200	115,500	98,400	35,200	14,700	11,900	81,900	0	0	0	0	0	0
Cash And Equivalents	0	234,100	446,100	302,200	399,000	56,000	66,000	52,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	242,900	234,100	446,100	302,200	399,000	56,000	66,000	52,000	48,300	58,000	42,700	20,200	115,500	98,400	65,300	14,700	11,900	81,900	0	0	0	0	0	0
Common Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	193,500	4,400	0	0	0	0	0	0
Common Stock Shares Outstanding	70,100	72,200	75,400	73,400	63,300	63,800	64,000	63,800	63,900	63,800	63,000	62,400	62,000	61,900	61,700	62,500	62,500	62,300	62,683	62,527	62,683	62,683	62,683	62,683
Common Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	193,500	4,400	0	0	0	0	0	0
Current Deferred Revenue	388,500	290,300	296,600	189,100	158,200	125,900	132,300	78,600	79,700	76,100	80,900	41,700	38,200	27,100	44,400	45,000	0	111,900	0	0	0	0	0	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	22,300	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	0	210,200	206,700	0	73,600	76,400	75,700	22,600	29,400	55,400	75,400	21,700	30,100	35,700	0	0	0	0	0	0	0	0	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Good Will	2,028,100	1,159,400	1,168,600	1,137,800	578,000	581,900	647,500	634,300	544,000	570,700	585,800	303,700	300,000	196,400	5,800	5,800	5,800	3,000	0	0	0	0	0	0
Intangible Assets	1,377,100	810,700	913,800	960,700	454,900	487,300	523,900	541,500	459,600	510,500	558,600	313,900	332,800	226,600	10,500	19,700	23,000	571,700	0	0	0	0	0	0
Inventory	592,600	533,800	411,600	385,400	176,600	172,500	151,600	153,100	153,600	168,500	177,500	90,000	83,700	64,900	42,500	48,600	47,500	129,800	0	0	0	0	0	0
Liabilities And Stockholders Equity	5,547,700	3,867,500	4,014,900	3,987,400	2,228,600	1,864,600	1,956,500	1,960,900	1,808,100	1,918,500	2,003,200	1,087,500	1,180,700	1,052,100	561,100	545,300	316,600	1,952,200	337,100	320,500	5,474,900	5,455,000	5,072,000	4,597,000
Long Term Debt	1,990,400	1,222,100	1,212,900	1,516,300	619,500	344,600	446,900	596,300	518,700	543,500	654,300	271,600	431,500	403,400	0	0	0	0	0	0	0	0	0	0
Long Term Debt Total	0	1,222,100	1,212,900	1,516,300	619,500	344,600	446,900	596,300	518,700	543,500	654,300	271,600	431,500	403,400	0	0	0	0	0	0	0	0	0	0
Long Term Investments	0	0	0	0	0	0	0	7,600	8,300	0	0	0	17,400	153,000	0	0	0	0	0	0	0	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt	1,855,300	1,080,600	872,400	1,371,300	220,500	288,600	399,700	558,100	479,800	500,500	621,600	251,400	316,000	305,000	24,800	85,300	-11,900	276,000	0	0	0	0	0	0
Net Invested Capital	3,640,400	2,305,000	2,422,500	2,611,600	1,373,600	1,075,700	1,217,100	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	658,900	525,600	445,400	417,600	398,500	338,800	331,300	330,800	332,800	340,300	355,500	150,700	131,700	119,000	95,200	88,400	90,900	501,000	0	0	0	0	0	0
Net Tangible Assets	-1,774,900	-887,200	295,700	98,300	-278,800	-338,100	-420,000	-543,500	-409,500	-497,900	-576,100	-111,300	143,100	-51,100	0	0	0	0	0	0	0	0	0	0
Net Working Capital	316,600	325,100	399,400	517,600	433,900	78,900	81,900	166,600	199,900	146,700	173,900	153,500	243,900	204,800	98,000	-4,400	94,400	438,700	0	0	341,600	407,000	548,000	442,000
Non Current Assets Total	3,940,100	2,464,600	2,580,300	2,617,700	1,205,400	1,254,000	1,362,900	1,360,600	1,204,000	1,280,700	1,363,800	782,200	800,600	729,300	328,200	363,700	146,400	1,188,300	0	0	4,754,400	4,484,000	4,181,000	3,873,000
Non Current Liabilities Other	62,700	55,500	70,800	166,800	131,300	120,500	129,600	232,700	218,700	200,900	231,700	136,100	139,800	123,100	0	0	0	0	0	0	0	0	0	0
Non Current Liabilities Total	2,593,800	1,681,700	1,747,600	2,055,900	869,500	588,800	678,900	881,000	798,100	833,600	961,400	429,400	601,400	562,200	122,200	70,900	59,900	495,300	0	0	3,886,200	3,892,000	3,703,000	3,484,000
Non Currrent Assets Other	102,900	-125,200	64,700	50,600	32,200	42,800	41,100	32,300	42,100	40,000	47,500	11,300	1,500	141,500	154,000	208,300	16,700	295,100	0	0	4,754,400	4,484,000	4,181,000	3,873,000
Noncontrolling Interest In Consolidated Entity	0	25,100	22,600	20,400	15,700	13,000	14,500	13,900	11,700	10,500	8,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	102,900	90,000	100	50,600	32,200	42,800	41,100	23,500	42,100	27,900	36,200	30,900	26,500	31,800	56,200	46,500	28,700	46,800	337,100	320,500	0	0	0	0
Other Current Assets	113,200	109,400	75,200	83,200	22,400	18,100	16,500	22,300	23,700	21,500	21,000	24,800	20,900	15,400	8,400	7,500	3,900	23,000	0	0	720,500	971,000	891,000	724,000
Other Current Liab	431,300	338,800	253,700	355,100	121,700	137,100	202,600	205,600	210,800	207,400	193,200	45,500	30,900	28,300	17,400	25,200	57,500	110,700	0	0	378,900	564,000	343,000	282,000
Other Liab	515,300	367,000	429,100	418,700	250,000	244,200	232,000	284,700	279,400	234,700	231,700	136,100	139,800	123,100	122,200	70,900	59,900	59,900	0	0	0	0	0	0
Other Stockholder Equity	457,800	426,500	589,700	680,400	295,200	284,300	325,500	328,800	329,900	323,800	317,500	310,400	299,900	290,100	280,100	280,200	0	-519,200	0	0	1,209,800	999,000	1,026,000	831,000
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Property Plant And Equipment Gross	658,700	281,000	295,100	468,600	140,300	142,000	150,400	152,500	158,300	159,500	171,900	117,900	120,600	109,600	85,300	90,800	88,900	208,400	0	0	0	0	0	0
Property Plant And Equipment Net	432,000	404,500	433,200	468,600	140,300	142,000	150,400	152,500	158,300	159,500	171,900	117,900	120,600	109,600	85,300	90,800	88,900	208,400	0	0	0	0	0	0
Property Plant Equipment	432,000	404,500	295,100	314,200	140,300	142,000	150,400	152,500	158,300	159,500	171,900	117,900	120,600	121,500	85,300	90,800	88,900	88,900	0	0	0	0	0	0
Retained Earnings	1,319,600	812,000	666,200	481,400	599,500	531,000	507,100	433,300	372,100	311,700	252,200	238,300	182,700	124,800	79,300	23,000	0	1,646,800	0	0	0	0	0	0
Retained Earnings Total Equity	0	812,000	666,200	481,400	599,500	531,000	507,100	433,300	372,100	311,700	252,200	238,300	182,700	124,800	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt	19,700	0	0	36,300	0	0	18,800	13,800	9,400	15,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	2,098,200	1,314,700	1,318,500	1,673,500	619,500	344,600	465,700	610,100	528,100	558,500	664,300	271,600	431,500	403,400	60,000	100,000	0	357,900	0	0	0	0	0	0
Short Term Debt	19,700	15,700	123,500	36,300	73,200	71,900	18,800	13,800	9,400	15,000	10,000	29,300	36,600	35,700	60,000	100,000	0	10,900	0	0	0	0	0	0
Short Term Investments	0	0	0	0	0	500	800	800	0	0	0	0	0	0	30,100	0	0	0	0	0	0	0	0	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Assets	5,547,700	3,867,500	4,014,900	3,987,400	2,228,600	1,864,600	1,956,500	1,960,900	1,808,100	1,918,500	2,003,200	1,087,500	1,180,700	1,052,100	561,100	545,300	316,600	1,952,200	337,100	320,500	5,474,900	5,455,000	5,072,000	4,597,000
Total Current Assets	1,607,600	1,402,900	1,434,500	1,369,700	1,023,200	610,600	593,600	600,300	604,100	637,800	639,400	305,300	380,100	322,800	232,900	181,600	170,200	763,900	0	0	720,500	971,000	891,000	724,000
Total Current Liabilities	1,291,000	1,077,800	1,035,100	852,100	589,300	531,700	511,700	433,700	404,200	491,100	465,500	151,800	136,200	118,000	134,900	186,000	75,800	325,200	0	0	378,900	564,000	343,000	282,000
Total Liab	3,884,800	2,759,500	2,782,700	2,908,000	1,458,800	1,120,500	1,190,600	1,314,700	1,202,300	1,324,700	1,426,900	581,200	737,600	680,200	257,100	256,900	135,700	820,500	337,100	320,500	4,265,100	4,456,000	4,046,000	3,766,000
Total Permanent Equity	0	0	0	0	0	744,100	765,900	646,200	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	1,630,300	1,082,900	1,209,600	1,059,000	754,100	731,100	751,400	632,300	594,100	583,300	568,300	506,300	443,100	371,900	304,000	288,400	180,900	1,131,700	0	0	1,209,800	999,000	1,026,000	831,000
Treasury Stock	0	-297,300	-135,700	-43,200	-50,100	-67,100	-24,400	-19,900	-21,000	-18,300	-4,200	-11,500	-17,100	-14,800	-17,500	-6,200	0	0	0	0	0	0	0	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30
Accounts Payable	422,100	451,500	402,300	413,000	397,300	433,000	438,700	428,400	389,400	361,300	329,300	293,800	274,200	271,600	264,900	297,900	349,000	236,200	224,500	207,700	196,000	196,800	173,100	175,200	152,000	158,000	141,700	132,300	120,300	135,700	112,700	105,600	101,700	104,300	115,200	118,000	140,100	192,600	178,000	177,700	169,600	181,400	178,800	175,300	180,000	35,300	33,800	29,100	26,100	30,500	25,600	25,600	22,400	26,900	22,800	17,400	17,000	13,100	12,800	14,400	10,800	15,800	14,100	19,800	17,600	18,300	0	0	0	18,000
Accumulated Amortization	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Accumulated Other Comprehensive Income	-90,900	-147,100	-114,900	-91,400	-108,900	-155,600	-101,200	-47,700	-42,400	-46,300	-55,200	-85,800	-40,700	-102,800	-142,600	-158,300	-126,700	-140,600	-98,500	-101,800	-94,300	-84,200	-83,700	-58,500	-74,500	-81,200	-106,600	-133,000	-145,800	-129,800	-116,500	-101,900	-121,700	-107,900	-87,400	-111,200	-71,900	-52,200	7,500	10,500	10,000	-1,400	-43,900	-51,000	-31,100	-42,400	-45,300	-38,300	-47,200	-39,500	-7,100	-27,400	-32,200	-43,000	-56,600	-53,300	-54,700	-55,400	-20,300	-20,900	-17,000	-14,800	-14,500	-14,300	-11,700	-12,600	0	0	0	0
Additional Paid In Capital	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	351,400	0	0	0	349,900	0	0	0	348,700	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	92,000	88,100	83,000	83,200	82,300	92,600	96,700	104,400	96,900	105,600	112,800	116,400	119,900	120,900	126,200	130,800	137,100	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Capital Surpluse	0	0	706,900	704,700	706,500	723,800	719,500	717,300	714,800	725,400	722,900	720,500	717,200	723,600	719,700	716,300	712,900	345,300	345,300	343,100	341,700	351,400	348,500	346,400	344,100	349,900	348,000	346,600	344,100	348,700	350,400	351,300	348,400	350,900	348,700	346,100	342,700	342,100	341,600	340,700	328,100	321,700	317,600	320,100	318,700	321,900	319,900	320,200	318,600	317,000	313,400	311,200	307,300	304,900	304,600	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash	198,400	242,900	290,500	315,100	193,900	234,100	284,400	444,800	447,400	446,100	476,200	344,900	265,800	302,200	263,100	374,000	142,400	399,000	64,400	58,600	64,800	56,000	71,100	68,500	77,800	66,000	71,500	51,400	46,600	52,000	47,600	43,200	55,100	48,300	45,600	43,000	52,000	58,000	61,700	51,000	62,300	42,700	41,100	40,700	102,100	20,200	16,000	60,100	122,500	115,500	198,300	160,300	136,000	98,400	82,200	72,900	4,100	35,200	28,800	43,200	20,300	14,700	33,000	125,900	11,800	11,900	0	0	0	7,900
Cash And Equivalents	0	0	290,500	315,100	193,900	234,100	284,400	444,800	447,400	446,100	476,200	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash And Short Term Investments	198,400	242,900	290,500	315,100	193,900	234,100	284,400	444,800	447,400	446,100	476,200	344,900	265,800	302,200	263,100	374,000	142,400	399,000	64,400	58,600	64,800	56,000	71,100	68,500	77,800	66,000	71,500	51,400	46,600	52,000	47,600	43,200	55,100	48,300	45,600	43,000	52,000	58,000	61,700	51,000	62,300	42,700	41,100	40,700	102,100	20,200	16,000	60,100	122,500	115,500	198,300	160,300	136,000	98,400	95,900	102,600	34,000	65,300	28,800	43,200	20,300	14,700	33,000	181,200	11,800	11,900	0	0	0	0
Common Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	193,500	0	0	0	0
Common Stock Shares Outstanding	70,500	70,500	70,300	70,100	69,800	70,300	72,000	73,700	73,500	74,200	76,200	76,200	75,500	75,100	75,100	75,100	68,400	63,200	63,400	63,400	63,500	63,600	63,500	63,300	64,100	63,900	63,900	64,400	64,100	64,000	63,900	63,800	63,800	63,200	63,900	63,900	63,900	63,100	63,700	63,900	63,700	63,100	63,200	63,100	62,600	62,400	62,500	62,600	62,000	62,000	62,100	62,100	62,000	62,000	62,000	61,900	61,800	61,800	61,700	61,700	62,000	62,000	62,500	62,500	62,500	62,500	62,500	62,500	62,500	0
Common Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	193,500	0	0	0	0
Current Deferred Revenue	387,100	388,500	362,600	390,700	392,300	290,300	253,100	299,900	304,300	296,600	324,900	265,600	214,100	189,100	168,400	176,600	183,100	158,200	109,200	125,100	135,800	125,900	176,500	165,800	171,200	132,300	97,900	90,600	77,500	78,600	75,600	71,900	70,200	79,700	73,500	79,300	75,900	76,100	100,500	96,800	97,100	80,900	72,000	78,000	73,100	19,600	0	27,200	36,300	28,300	0	27,600	29,000	21,500	61,600	45,000	0	21,500	41,000	42,600	41,200	22,400	42,700	41,900	0	0	0	0	0	0
Deferred Long Term Asset Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	28,500	21,500	19,300	0	30,100	28,700	33,200	0	23,400	15,000	23,400	22,300	29,600	33,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Deferred Long Term Liab	0	0	288,400	297,600	291,100	210,200	0	0	0	206,700	0	0	204,700	0	187,600	187,500	215,400	73,600	70,800	79,400	77,700	76,400	66,600	62,000	57,100	75,700	61,600	45,400	36,800	22,600	31,900	32,700	31,600	29,400	49,000	49,100	53,700	55,400	69,900	71,500	74,000	75,400	30,200	32,500	36,200	21,700	24,100	18,500	19,600	30,100	34,000	33,800	35,200	35,700	28,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Earning Assets	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Good Will	2,061,500	2,028,100	1,561,400	1,561,200	1,562,700	1,159,400	1,132,500	1,159,900	1,165,900	1,168,600	1,175,800	1,165,900	1,185,900	1,137,800	1,143,100	1,133,500	1,256,900	578,000	586,800	583,000	587,300	581,900	583,200	602,600	651,200	647,500	639,100	620,000	616,300	634,300	635,800	642,600	569,200	544,000	548,900	535,800	558,700	570,700	596,100	598,000	599,400	585,800	535,900	532,200	542,800	303,700	303,300	300,600	297,600	300,000	0	0	0	196,400	182,000	0	0	5,800	0	0	0	5,800	0	0	5,700	5,800	0	0	0	3,000
Intangible Assets	1,386,500	1,377,100	1,085,600	1,112,300	1,095,100	810,700	849,300	885,100	900,200	913,800	931,200	939,100	965,900	960,700	1,093,600	1,101,300	1,317,700	454,900	471,100	477,300	490,600	487,300	496,100	517,800	523,100	523,900	524,300	516,200	519,900	541,500	548,400	563,900	499,800	459,600	467,700	464,800	493,700	510,500	539,300	548,800	556,100	558,600	558,500	573,700	604,700	313,900	314,300	321,300	324,100	332,800	425,900	423,700	425,200	226,600	226,000	15,300	15,800	10,500	17,200	18,000	67,100	19,700	20,700	21,300	22,000	23,000	0	0	0	22,200
Inventory	607,500	592,600	568,400	588,300	591,600	533,800	506,100	481,200	441,700	411,600	410,900	385,000	388,500	385,400	424,300	423,300	442,100	176,600	186,700	183,000	182,300	172,500	181,700	180,600	167,100	151,600	159,300	150,200	153,900	153,100	163,300	162,100	166,100	153,600	170,600	174,900	177,100	168,500	184,500	183,100	178,600	177,500	185,900	191,300	191,900	90,000	94,200	91,500	90,000	83,700	75,600	70,000	68,300	64,900	69,900	42,900	42,500	42,500	43,700	47,800	50,800	48,600	50,300	49,700	48,700	47,500	0	0	0	47,700
Liabilities And Stockholders Equity	5,584,900	5,547,700	4,733,800	4,830,500	4,885,900	3,867,500	3,893,700	4,065,000	3,994,600	4,014,900	4,037,400	3,917,100	4,015,300	3,987,400	4,029,900	4,190,700	4,420,700	2,228,600	1,890,600	1,885,500	1,870,200	1,864,600	1,933,600	1,989,400	2,009,100	1,956,500	1,954,100	1,893,200	1,877,700	1,960,900	1,939,700	1,991,000	1,842,800	1,808,100	1,804,800	1,788,300	1,884,200	1,918,500	1,991,400	1,994,100	2,003,900	2,003,200	1,956,900	1,964,100	2,033,000	1,087,500	1,057,500	1,121,900	1,165,600	1,180,700	1,010,200	1,119,900	1,094,400	1,052,100	1,034,400	610,100	535,700	561,100	540,600	569,500	553,100	545,300	566,400	698,800	322,000	316,600	0	0	0	0
Long Term Debt	2,021,500	1,990,400	1,329,300	1,303,900	1,890,400	1,222,100	1,214,600	1,214,000	1,213,400	1,212,900	1,212,400	1,211,900	1,368,300	1,516,300	1,674,800	1,826,600	1,822,600	619,500	323,200	361,700	364,800	344,600	424,400	478,400	477,000	446,900	578,400	606,400	637,900	596,300	624,600	700,000	612,900	518,700	519,100	561,800	608,100	543,500	582,100	612,600	640,500	654,300	701,300	709,600	757,700	271,600	273,600	148,600	431,500	431,500	272,500	423,400	423,400	403,400	375,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Debt Total	0	0	1,329,300	1,303,900	1,890,400	1,222,100	1,214,600	1,214,000	1,213,400	1,212,900	1,212,400	1,211,900	1,368,300	1,516,300	1,674,800	1,826,600	1,822,600	619,500	323,200	361,700	364,800	344,600	424,400	478,400	477,000	446,900	578,400	606,400	637,900	596,300	624,600	700,000	612,900	518,700	519,100	561,800	608,100	543,500	582,100	612,600	640,500	654,300	701,300	709,600	757,700	271,600	273,600	148,600	431,500	431,500	272,500	423,400	423,400	403,400	375,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Long Term Investments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	7,600	0	0	0	8,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	15,600	17,400	17,100	159,500	154,900	153,000	18,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Negative Goodwill	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Debt	1,935,400	1,855,300	1,131,800	1,082,000	1,788,800	1,080,600	1,026,900	873,600	862,900	872,400	849,000	983,400	1,250,500	1,371,300	1,574,200	1,630,100	1,859,400	220,500	260,000	304,800	300,000	288,600	353,300	410,600	403,000	399,700	523,800	571,200	607,700	558,100	589,400	668,800	567,900	479,800	484,700	527,800	565,100	500,500	534,900	575,100	589,400	621,600	670,200	678,900	665,600	251,400	257,600	287,500	309,000	316,000	74,200	263,100	287,400	305,000	306,400	-43,200	119,400	24,800	51,200	71,800	79,700	85,300	77,000	124,100	-11,800	-11,900	0	0	0	0
Net Invested Capital	3,730,400	3,640,400	2,993,300	2,949,500	3,063,000	2,305,000	2,341,600	2,468,500	2,446,000	2,422,500	2,442,600	2,426,300	2,582,300	2,611,600	2,747,700	2,882,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Receivables	639,700	658,900	598,700	634,000	596,900	525,600	501,800	479,500	446,400	445,400	417,800	442,600	465,900	417,600	463,400	480,100	550,200	398,500	357,400	364,300	324,700	338,800	370,200	374,100	354,500	331,300	332,500	332,300	317,100	330,800	283,000	318,400	293,700	332,800	303,800	306,600	327,100	340,300	323,600	322,500	320,600	355,500	321,700	316,900	298,600	150,700	118,900	134,500	121,900	131,700	109,200	129,500	124,500	119,000	114,300	98,000	98,300	95,200	84,600	91,000	96,500	88,400	85,600	117,200	93,400	90,900	0	0	0	0
Net Tangible Assets	0	-1,774,900	1,654,000	1,635,600	1,162,600	-887,200	1,127,000	1,254,500	-833,500	295,700	-876,800	-890,600	-965,900	98,300	-1,200,100	-1,225,800	-1,447,500	-278,800	-276,700	-303,500	-343,400	-338,100	-383,000	-403,600	-421,400	-420,000	-467,300	-479,300	-499,700	-543,500	-561,100	-585,900	-484,000	-409,500	-409,300	-439,300	-474,000	-497,900	-506,100	-537,000	-559,200	-576,100	-581,800	-600,200	-625,700	-111,300	185,100	185,600	160,800	143,100	464,300	430,900	-24,700	-51,100	-58,700	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Working Capital	346,700	316,600	404,000	343,500	489,400	325,100	349,500	435,700	391,600	399,400	418,400	397,300	479,800	517,600	475,500	558,900	342,300	433,900	131,900	144,600	102,900	78,900	120,000	149,900	124,700	81,900	171,800	168,300	175,000	166,600	161,700	209,900	220,700	199,900	195,300	206,200	227,600	146,700	168,200	168,100	180,700	173,900	202,300	202,700	226,100	153,500	141,600	6,400	259,500	243,900	312,900	287,900	249,600	204,800	155,300	142,600	122,100	98,000	37,400	23,500	9,700	-4,400	1,500	36,300	103,300	94,400	0	0	0	0
Non Current Assets Total	4,007,400	3,940,100	3,150,500	3,173,200	3,132,600	2,464,600	2,489,500	2,555,000	2,573,600	2,580,300	2,596,000	2,599,300	2,660,000	2,617,700	2,785,400	2,826,600	3,198,600	1,205,400	1,232,400	1,235,100	1,256,800	1,254,000	1,264,100	1,308,700	1,362,400	1,362,900	1,344,600	1,315,800	1,317,500	1,360,600	1,376,900	1,403,600	1,267,100	1,204,000	1,212,900	1,195,900	1,255,100	1,280,700	1,345,500	1,368,800	1,373,400	1,363,800	1,317,600	1,327,100	1,367,300	782,200	781,000	784,000	787,000	800,600	581,700	722,500	733,200	729,300	716,800	327,600	326,300	328,200	353,600	357,200	359,900	363,700	369,600	310,100	143,800	146,400	0	0	0	0
Non Current Liabilities Other	70,900	62,700	143,100	140,400	136,100	55,500	291,900	308,200	306,800	70,800	71,800	349,700	240,600	166,800	343,400	344,400	222,000	131,300	174,500	168,500	169,800	120,500	181,600	186,200	184,500	129,600	165,500	160,500	167,300	232,700	246,100	247,600	245,700	218,700	221,700	218,800	232,000	200,900	187,700	191,200	193,000	231,700	268,500	274,700	270,900	136,100	136,500	137,100	137,000	139,800	123,800	122,300	123,700	123,100	36,400	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Current Liabilities Total	2,635,100	2,593,800	1,869,000	1,849,900	2,429,200	1,681,700	1,688,700	1,712,900	1,710,600	1,747,600	1,762,000	1,760,900	1,933,500	2,055,900	2,205,800	2,358,500	2,397,100	869,500	568,500	609,600	612,300	588,800	672,600	726,600	718,600	678,900	805,500	812,300	842,000	881,000	902,600	980,300	890,200	798,100	789,800	829,700	893,800	833,600	872,800	916,100	947,300	961,400	1,000,000	1,016,800	1,064,800	429,400	434,200	304,200	588,100	601,400	430,300	579,500	582,300	562,200	522,800	122,000	123,500	122,200	65,100	70,800	72,700	70,900	86,100	77,400	63,300	59,900	0	0	0	0
Non Currrent Assets Other	106,000	102,900	101,200	-201,100	-207,500	90,000	-83,700	92,700	91,500	64,700	48,300	47,300	47,600	50,600	55,700	78,100	53,400	32,200	37,900	37,200	38,700	42,800	43,000	42,200	42,500	41,100	33,600	34,200	35,300	32,300	38,300	38,600	40,100	42,100	40,800	42,600	44,800	40,000	40,700	51,600	46,000	47,500	55,200	52,900	47,400	30,900	46,400	45,900	1,700	29,800	30,300	146,600	144,700	31,800	24,100	160,100	142,000	154,000	160,900	162,700	158,400	233,500	93,400	184,300	16,600	16,700	0	0	0	0
Noncontrolling Interest In Consolidated Entity	0	0	31,500	31,200	30,200	25,100	23,300	23,300	22,000	22,600	22,200	21,300	20,400	20,400	18,500	18,000	16,700	15,700	14,600	13,300	12,900	13,000	15,200	15,200	15,600	14,500	14,800	14,900	14,000	13,900	12,900	12,600	12,600	11,700	11,100	11,100	10,500	10,500	11,600	11,000	10,500	8,000	7,300	7,300	6,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Assets	0	102,900	101,200	96,500	83,600	90,000	98,500	92,700	91,500	100	48,300	47,300	203,000	50,600	55,700	78,100	53,400	32,200	37,900	37,200	38,700	42,800	43,000	42,200	1,216,800	1,212,500	1,197,000	1,170,400	1,171,500	1,208,100	1,222,500	1,245,100	1,109,100	1,045,700	1,057,400	1,043,200	1,097,200	1,121,200	1,176,100	1,198,400	1,201,500	1,191,900	1,149,600	1,158,800	1,194,900	664,300	664,000	667,800	667,800	680,000	473,300	613,800	624,500	619,700	605,600	243,100	241,800	242,900	267,100	269,300	270,900	272,900	278,400	216,400	56,300	57,500	0	0	0	69,000
Other Current Assets	131,900	113,200	125,700	119,900	132,900	109,400	111,900	104,500	85,500	75,200	75,100	82,600	85,100	83,200	93,700	86,700	87,400	22,400	20,100	19,600	17,100	18,100	16,900	23,200	16,900	16,500	19,400	20,000	23,400	22,300	17,800	18,000	20,300	23,700	20,100	17,800	19,500	21,500	20,100	19,600	16,700	21,000	23,800	54,800	42,600	24,800	24,300	28,800	15,400	20,900	22,300	13,000	7,400	15,400	16,700	10,800	34,600	8,400	10,700	11,200	8,300	7,500	9,100	6,900	7,300	3,900	0	0	0	19,900
Other Current Liab	401,300	431,300	404,400	500,100	464,300	325,800	362,900	346,000	251,900	253,700	263,200	265,500	359,100	355,100	299,400	284,000	305,600	121,700	191,400	171,300	125,200	137,100	133,100	189,100	195,000	202,600	181,200	170,000	171,000	205,600	200,400	188,000	173,000	210,800	196,700	179,900	176,500	207,400	184,700	169,200	171,900	193,200	176,200	171,000	176,500	45,500	101,100	76,200	37,000	30,900	90,000	28,800	40,100	28,300	64,300	47,800	70,300	40,300	15,800	16,800	31,500	47,800	28,500	40,700	57,300	57,500	0	0	0	59,000
Other Liab	0	515,300	0	462,800	456,500	367,000	377,400	394,500	400,300	429,100	436,800	432,600	445,300	418,700	404,800	401,100	437,400	250,000	245,300	247,900	247,500	244,200	248,200	248,200	184,500	156,300	165,500	160,500	167,300	262,100	246,100	247,600	245,700	250,000	221,700	218,800	232,000	234,700	220,800	232,000	232,800	231,700	268,500	274,700	270,900	136,100	136,500	137,100	137,000	139,800	123,800	122,300	123,700	123,100	119,500	122,000	123,500	122,200	65,100	70,800	72,700	70,900	86,100	77,400	63,300	59,900	0	0	0	59,900
Other Stockholder Equity	458,500	457,800	451,900	437,800	429,500	426,500	457,700	565,100	575,900	589,700	658,300	697,100	685,200	680,400	674,800	670,900	667,300	295,200	291,600	287,500	282,500	284,300	280,300	298,400	315,400	325,500	320,800	328,000	340,200	328,800	329,600	330,300	327,700	329,900	328,800	325,900	321,700	323,800	321,300	319,100	326,500	317,500	315,100	316,700	313,200	310,400	307,900	307,700	304,100	299,900	300,000	297,500	292,800	290,100	289,600	286,800	282,600	280,100	278,000	276,600	275,800	280,200	284,300	283,300	195,500	0	0	0	0	0
Preferred Stock Redeemable	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Preferred Stock Total Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Property Plant And Equipment Gross	696,400	658,700	296,400	295,200	285,200	281,000	280,900	281,300	0	295,100	440,700	447,000	460,600	468,600	493,000	513,700	570,600	140,300	136,600	137,600	140,200	142,000	141,800	146,100	145,600	150,400	147,600	145,400	146,000	152,500	154,400	158,500	158,000	158,300	155,500	152,700	157,900	159,500	169,400	170,400	171,900	171,900	168,000	168,300	172,400	117,900	117,000	116,200	119,200	120,600	108,400	108,700	108,700	109,600	111,200	84,500	84,500	85,300	86,500	87,900	89,000	90,800	91,200	93,700	87,500	88,900	0	0	0	0
Property Plant And Equipment Net	453,400	432,000	402,300	403,200	391,200	404,500	409,200	417,300	416,000	433,200	440,700	447,000	460,600	468,600	493,000	513,700	570,600	140,300	136,600	137,600	140,200	142,000	141,800	146,100	145,600	150,400	147,600	145,400	146,000	152,500	154,400	158,500	158,000	158,300	155,500	152,700	157,900	159,500	169,400	170,400	171,900	171,900	168,000	168,300	172,400	117,900	117,000	116,200	119,200	120,600	108,400	108,700	108,700	109,600	111,200	84,500	100,300	85,300	86,500	87,900	89,000	90,800	91,200	93,700	87,500	88,900	0	0	0	0
Property Plant Equipment	0	432,000	296,400	295,200	285,200	404,500	280,900	281,300	416,000	295,100	440,700	296,400	307,600	314,200	331,600	348,700	398,100	140,300	136,600	137,600	140,200	142,000	141,800	146,100	145,600	150,400	147,600	145,400	146,000	152,500	154,400	158,500	158,000	158,300	155,500	152,700	157,900	159,500	169,400	170,400	171,900	171,900	168,000	168,300	172,400	117,900	117,000	116,200	119,200	120,600	108,400	108,700	121,000	121,500	111,200	84,500	84,500	85,300	86,500	87,900	89,000	90,800	91,200	93,700	87,500	88,900	0	0	0	88,900
Retained Earnings	1,321,000	1,319,600	1,317,000	1,289,200	842,000	812,000	770,500	737,100	699,100	666,200	627,100	603,100	541,400	481,400	504,400	496,400	586,500	599,500	588,100	571,100	546,300	531,000	499,700	476,900	512,000	507,100	481,900	461,900	442,100	433,300	410,000	392,200	379,000	372,100	365,900	346,600	328,600	311,700	300,500	280,200	259,800	252,200	241,400	240,000	239,700	238,300	225,800	216,800	201,500	182,700	171,400	160,800	139,900	124,800	116,300	114,700	97,000	79,300	68,200	54,200	38,100	23,000	15,200	0	0	0	0	0	0	0
Retained Earnings Total Equity	0	0	1,317,000	1,289,200	842,000	812,000	770,500	737,100	699,100	666,200	627,100	603,100	541,400	481,400	504,400	496,400	586,500	599,500	588,100	571,100	546,300	531,000	499,700	476,900	512,000	507,100	481,900	461,900	442,100	433,300	410,000	392,200	379,000	372,100	365,900	346,600	328,600	311,700	300,500	280,200	259,800	252,200	241,400	240,000	239,700	238,300	225,800	216,800	201,500	182,700	171,400	160,800	139,900	124,800	116,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt	20,300	19,700	10,000	10,000	10,000	0	0	0	0	0	0	0	28,100	36,300	36,300	46,700	42,100	0	1,200	1,700	0	0	424,400	700	3,800	18,800	595,300	16,200	16,400	13,800	12,400	12,000	0	9,400	0	0	0	15,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Short Long Term Debt Total	2,133,800	2,098,200	1,422,300	1,397,100	1,982,700	1,314,700	1,311,300	1,318,400	1,310,300	1,318,500	1,325,200	1,328,300	1,516,300	1,673,500	1,837,300	2,004,100	2,001,800	619,500	324,400	363,400	364,800	344,600	424,400	479,100	480,800	465,700	595,300	622,600	654,300	610,100	637,000	712,000	623,000	528,100	530,300	570,800	617,100	558,500	596,600	626,100	651,700	664,300	711,300	719,600	767,700	271,600	273,600	347,600	431,500	431,500	272,500	423,400	423,400	403,400	388,600	29,700	123,500	60,000	80,000	115,000	100,000	100,000	110,000	250,000	0	0	0	0	0	0
Short Term Debt	20,300	19,700	10,000	10,000	10,000	28,700	0	0	83,800	123,500	105,600	95,600	28,100	36,300	36,300	46,700	42,100	73,200	1,200	1,700	53,500	71,900	66,800	700	3,800	18,800	16,900	16,200	16,400	13,800	12,400	12,000	10,100	9,400	11,200	9,000	9,000	15,000	14,500	13,500	11,200	10,000	10,000	10,000	10,000	51,400	0	199,000	19,700	46,500	0	27,500	20,100	41,300	13,600	29,700	0	60,000	80,000	115,000	100,000	100,000	110,000	250,000	0	0	0	0	0	0
Short Term Investments	0	410,600	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	500	500	500	500	500	800	3,400	3,300	800	800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	13,700	29,700	29,900	30,100	0	0	0	0	0	55,300	0	0	0	0	0	0
Temporary Equity Redeemable Noncontrolling Interests	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Assets	5,584,900	5,547,700	4,733,800	4,830,500	4,885,900	3,867,500	3,893,700	4,065,000	3,994,600	4,014,900	4,037,400	3,917,100	4,015,300	3,987,400	4,029,900	4,190,700	4,420,700	2,228,600	1,890,600	1,885,500	1,870,200	1,864,600	1,933,600	1,989,400	2,009,100	1,956,500	1,954,100	1,893,200	1,877,700	1,960,900	1,939,700	1,991,000	1,842,800	1,808,100	1,804,800	1,788,300	1,884,200	1,918,500	1,991,400	1,994,100	2,003,900	2,003,200	1,956,900	1,964,100	2,033,000	1,087,500	1,057,500	1,121,900	1,165,600	1,180,700	1,010,200	1,119,900	1,094,400	1,052,100	1,034,400	610,100	535,700	561,100	540,600	569,500	553,100	545,300	566,400	698,800	322,000	316,600	0	0	0	329,400
Total Current Assets	1,577,500	1,607,600	1,583,300	1,657,300	1,753,300	1,402,900	1,404,200	1,510,000	1,421,000	1,434,500	1,441,400	1,317,800	1,355,300	1,369,700	1,244,500	1,364,100	1,222,100	1,023,200	658,200	650,400	613,400	610,600	669,500	680,700	646,700	593,600	609,500	577,400	560,200	600,300	562,800	587,400	575,700	604,100	591,900	592,400	629,100	637,800	645,900	625,300	630,500	639,400	639,300	637,000	665,700	305,300	276,500	337,900	378,600	380,100	428,500	397,400	361,200	322,800	317,600	282,500	209,400	232,900	187,000	212,300	193,200	181,600	196,800	388,700	178,200	170,200	0	0	0	0
Total Current Liabilities	1,230,800	1,291,000	1,179,300	1,313,800	1,263,900	1,077,800	1,054,700	1,074,300	1,029,400	1,035,100	1,023,000	920,500	875,500	852,100	769,000	805,200	879,800	589,300	526,300	505,800	510,500	531,700	549,500	530,800	522,000	511,700	437,700	409,100	385,200	433,700	401,100	377,500	355,000	404,200	396,600	386,200	401,500	491,100	477,700	457,200	449,800	465,500	437,000	434,300	439,600	151,800	134,900	331,500	119,100	136,200	115,600	109,500	111,600	118,000	162,300	139,900	87,300	134,900	149,600	188,800	183,500	186,000	195,300	352,400	74,900	75,800	0	0	0	77,000
Total Liab	3,865,900	3,884,800	3,048,300	3,163,700	3,693,100	2,759,500	2,743,400	2,787,200	2,740,000	2,782,700	2,785,000	2,681,400	2,809,000	2,908,000	2,974,800	3,163,700	3,276,900	1,458,800	1,094,800	1,115,400	1,122,800	1,120,500	1,222,100	1,257,400	1,240,600	1,190,600	1,243,200	1,221,400	1,227,200	1,314,700	1,303,700	1,357,800	1,245,200	1,202,300	1,186,400	1,215,900	1,295,300	1,324,700	1,350,500	1,373,300	1,397,100	1,426,900	1,437,000	1,451,100	1,504,400	581,200	569,100	635,700	707,200	737,600	545,900	689,000	693,900	680,200	685,100	261,900	210,800	257,100	214,700	259,600	256,200	256,900	281,400	429,800	138,200	135,700	0	0	0	136,900
Total Permanent Equity	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	744,100	711,500	732,000	768,500	765,900	710,900	671,800	650,500	646,200	636,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Stockholder Equity	1,688,600	1,630,300	1,654,000	1,635,600	1,162,600	1,082,900	1,127,000	1,254,500	1,232,600	1,209,600	1,230,200	1,214,400	1,185,900	1,059,000	1,036,600	1,009,000	1,127,100	754,100	781,200	756,800	734,500	731,100	696,300	716,800	752,900	751,400	696,100	656,900	636,500	632,300	623,100	620,600	585,000	594,100	607,300	561,300	578,400	583,300	629,300	609,800	596,300	568,300	512,600	505,700	521,800	506,300	488,400	486,200	458,400	443,100	464,300	430,900	400,500	371,900	349,300	348,200	324,900	304,000	325,900	309,900	296,900	288,400	285,000	269,000	183,800	180,900	0	0	0	192,500
Treasury Stock	0	0	-255,000	-266,900	-277,000	-297,300	-261,800	-152,200	-138,900	-135,700	-64,600	-23,400	-32,000	-43,200	-44,900	-45,400	-45,600	-50,100	-53,700	-55,600	-59,200	-67,100	-68,200	-48,000	-28,700	-24,400	-27,200	-18,600	-3,900	-19,900	-20,800	-21,000	-20,700	-21,000	-19,900	-20,200	-21,000	-18,300	-20,300	-21,600	-1,600	-4,200	-2,500	-3,400	-5,500	-11,500	-12,000	-12,500	-14,500	-17,100	-13,400	-13,700	-14,500	-14,800	-15,000	-15,400	-17,000	-17,500	-18,400	-18,400	-12,500	-6,200	0	0	0	0	0	0	0	0
Warrants	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0

Cash Flow

Currency in USD. All numbers in thousands.

	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30	2008-09-30	2007-09-30	2006-09-30	2005-09-30	2004-09-30	2003-09-30	2002-09-30	2001-09-30	2000-09-30
Begin Period Cash Flow	237,600	450,900	311,800	399,400	56,500	66,000	52,000	48,300	58,000	42,700	20,200	115,500	98,400	35,200	14,700	11,900	7,900	76,800	16,300	16,300	114,700	121,000	101,000	106,000
Capital Expenditures	69,300	50,300	40,000	35,900	25,500	27,000	22,000	21,200	31,000	23,600	29,900	20,900	21,900	16,300	10,000	10,000	15,600	92,600	16,300	16,300	114,700	121,000	101,000	106,000
Cash And Cash Equivalents Changes	0	-213,300	139,100	-87,600	342,900	-10,000	14,000	3,700	-9,700	15,300	22,500	-95,300	17,100	63,200	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	-23,200	-1,700	19,000	-21,400	-100	-6,200	5,500	-8,500	-600	-3,100	100,400	56,500	-11,500	0	0	0	0	0	0	0	0	0	0
Change In Cash	12,600	-213,300	139,100	-87,600	342,900	-10,000	14,000	3,700	-9,700	15,300	22,500	-95,300	17,100	63,200	20,500	2,800	4,000	5,100	72,600	115,700	251,400	276,000	344,000	189,000
Change In Working Capital	-44,600	-165,300	174,300	114,900	-9,600	33,300	96,500	49,800	-80,800	27,800	-13,700	-10,500	-17,900	7,700	-1,100	-3,900	8,100	-397,800	0	-341,600	-65,400	-141,000	106,000	0
Change Receivables	0	-115,900	-24,200	91,700	-66,200	-13,000	10,700	9,700	-15,400	1,000	-38,900	-18,500	-8,800	-6,900	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	-30,800	-115,900	-31,800	127,100	-83,400	-13,000	10,700	9,700	-15,400	1,000	-38,900	-18,500	-8,800	-4,900	3,000	2,000	5,900	-46,600	0	0	0	0	0	0
Change To Inventory	57,200	-125,500	-33,400	58,500	-8,600	-24,000	5,400	11,300	5,200	3,300	26,500	-6,200	-5,900	20,900	6,100	-1,700	1,800	-5,200	0	0	0	0	0	0
Change To Liabilities	-110,500	105,500	233,600	-54,300	72,800	70,400	86,600	23,300	-62,100	24,100	3,200	13,400	-5,700	200	0	0	0	0	0	0	0	0	0	0
Change To Netincome	-593,700	35,700	-23,400	158,800	10,800	77,300	-35,300	11,200	18,300	-17,800	-15,300	8,700	11,200	-5,300	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	19,500	-37,300	-1,700	19,000	-7,600	-100	-6,200	-5,200	-7,500	28,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	125,600	108,200	115,100	130,600	58,500	56,500	56,600	60,400	54,300	58,400	89,400	40,400	36,100	28,500	18,600	19,100	18,500	108,800	0	0	0	0	0	0
Dividends Paid	61,300	62,000	64,000	63,400	52,600	52,100	51,900	51,100	50,400	49,700	48,700	47,600	46,900	46,200	45,600	22,800	0	69,800	0	0	0	0	0	0
End Period Cash Flow	250,200	237,600	450,900	311,800	399,400	56,000	66,000	52,000	48,300	58,000	42,700	20,200	115,500	98,400	35,200	14,700	11,900	81,900	88,900	132,000	366,100	397,000	445,000	295,000
Exchange Rate Changes	0	-16,800	8,000	-1,400	-2,300	-2,700	-3,600	-2,600	-2,000	-500	-200	100	4,100	3,900	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	137,700	140,800	488,400	318,900	153,400	221,300	224,200	217,000	74,000	156,000	97,300	117,300	167,600	101,900	113,200	91,800	111,700	-63,500	72,600	115,700	251,400	276,000	344,000	189,000
Investments	-722,300	-143,400	126,000	-1,295,900	-51,200	-23,100	3,200	1,100	1,500	7,800	3,000	2,800	16,800	39,100	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	751,900	8,700	-344,200	922,000	273,800	-120,200	13,500	9,000	9,000	10,000	385,600	-162,300	-150,900	336,300	0	0	0	0	0	0	0	0	0	0
Net Income	114,100	215,200	255,200	-53,400	126,200	81,200	128,400	116,800	113,200	111,200	65,400	104,800	106,100	92,300	102,300	93,200	99,500	221,200	102,800	113,800	189,000	44,000	170,000	154,000
Other Cashflows From Financing Activities	1,871,600	96,000	-12,500	2,458,500	1,262,100	-6,300	-1,700	-800	1,200	200	909,900	544,500	179,000	-2,100	40,000	34,200	-103,500	4,100	-16,300	-16,300	-114,700	-121,000	-101,000	-106,000
Other Cashflows From Investing Activities	689,500	-93,100	166,000	-1,260,000	-25,700	3,900	5,300	-233,400	1,500	7,500	-414,100	-4,400	-149,400	-371,500	0	0	0	0	0	0	0	0	0	0
Other Non Cash Items	-1,300	-11,800	-48,100	162,300	-14,900	61,500	-82,900	7,400	6,800	-17,100	3,300	-200	58,000	600	-6,500	-5,100	8,500	-24,600	-13,900	18,200	177,100	353,000	275,000	141,000
Sale Purchase Of Stock	-36,900	-203,900	-121,100	1,200	-4,200	-61,000	-28,000	-21,200	-11,200	-16,500	0	-22,500	-3,800	613,100	-12,500	-6,200	0	-700	0	0	0	0	0	0
Stock Based Compensation	18,800	21,300	19,700	19,900	12,000	12,100	10,500	8,500	12,000	7,500	6,400	8,700	11,700	7,600	6,700	1,600	-200	1,700	0	0	0	0	0	0
Total Cash From Financing Activities	693,400	-244,200	-523,300	854,900	217,500	-232,500	-215,100	21,600	-83,200	-155,500	336,500	-211,100	-22,000	289,800	-97,400	-94,400	-103,500	-56,400	0	0	0	0	0	0
Total Cash From Operating Activities	207,000	191,100	528,400	354,800	178,900	248,300	246,200	238,200	105,000	179,600	127,200	138,200	189,500	118,200	123,200	101,800	127,300	29,100	88,900	132,000	366,100	397,000	445,000	295,000
Total Cashflows From Investing Activities	-729,900	-143,400	126,000	-1,295,900	-51,200	-23,100	-13,500	-253,500	-29,500	-8,300	-441,000	-22,500	-154,500	-348,700	0	0	0	0	0	0	0	0	0	0

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30
Begin Period Cash Flow	250,200	291,300	315,900	195,800	237,600	285,500	446,000	448,200	450,900	477,700	347,300	267,400	311,800	264,900	374,400	142,900	399,400	65,000	59,400	65,300	56,500	71,100	68,500	77,800	66,000	71,500	51,400	46,600	52,000	47,600	43,200	55,100	48,300	45,600	43,000	52,000	58,000	61,700	51,000	62,300	42,700	41,100	40,700	102,100	20,200	16,000	60,100	122,500	116,000	198,300	160,300	136,000	98,400	82,200	72,900	4,100	35,200	28,800	43,200	20,300	14,700	33,000	125,900	11,800	11,900	8,900	7,400	10,100	7,900	0
Capital Expenditures	12,400	23,200	13,900	16,900	15,300	17,800	12,500	10,300	9,700	18,200	10,200	6,000	5,600	15,600	5,300	8,700	6,300	12,900	4,300	4,700	3,600	10,700	5,700	5,000	5,600	7,800	5,100	4,500	4,600	5,600	6,500	2,600	6,500	11,300	7,800	6,200	5,700	5,700	6,500	5,800	5,600	10,800	7,900	5,600	5,600	6,900	5,900	3,900	4,200	10,500	3,300	4,400	3,700	6,100	3,200	4,000	3,000	2,900	2,300	2,700	2,100	3,900	1,700	2,100	2,300	5,700	5,900	2,300	1,700	18,800
Cash And Cash Equivalents Changes	0	0	91,400	125,900	-37,300	-58,100	-152,500	4,400	-7,100	-16,100	112,200	97,100	-54,100	48,000	-111,100	232,400	-256,900	334,400	5,600	-5,900	8,800	-15,100	2,600	-9,300	11,800	-5,500	20,100	4,800	-5,400	4,400	4,400	-11,900	6,800	2,700	2,600	-9,000	-6,000	-3,700	10,700	-11,300	19,600	1,600	400	-61,400	81,900	4,200	-44,100	-62,400	7,000	-82,800	38,000	24,300	37,600	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Cash Flows Other Operating	0	0	-5,700	-447,900	-13,900	9,100	-11,500	-19,100	-1,700	-5,100	7,500	1,000	-5,100	12,500	-2,200	-5,800	14,500	-15,400	-5,200	-2,700	1,900	2,400	8,200	-15,100	4,400	-600	-100	-2,200	-3,300	-1,100	400	1,800	4,400	-6,200	-3,500	900	300	12,200	-1,100	-9,600	-2,100	23,300	-6,100	-12,000	-8,300	27,400	20,000	54,500	-1,500	3,000	56,500	-5,200	2,200	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change In Cash	-50,600	-41,100	-24,600	120,100	-41,800	-47,900	-160,500	-2,200	-2,700	-26,800	130,400	79,900	-44,400	46,900	-109,500	231,500	-256,500	334,400	5,600	-5,900	8,800	-15,100	2,600	-9,300	11,800	-5,500	20,100	4,800	-5,400	4,400	4,400	-11,900	6,800	2,700	2,600	-9,000	-6,000	-3,700	10,700	-11,300	19,600	1,600	400	-61,400	81,900	4,200	-44,100	-62,400	7,000	-82,800	38,000	24,300	37,600	16,200	9,300	68,800	-31,100	6,400	-14,400	22,900	5,600	-18,300	-92,900	114,100	-100	3,000	1,500	-2,700	2,200	0
Change In Working Capital	-62,200	-3,100	23,700	-2,600	-62,600	-26,300	-72,100	-43,500	-23,400	-14,800	110,400	106,800	-28,100	120,500	-15,100	-5,300	14,800	33,700	19,100	-48,700	-13,700	19,200	35,000	-28,100	7,200	82,400	21,600	11,400	-18,900	-6,700	49,300	15,900	-8,700	-7,400	12,900	-2,200	-84,100	13,600	15,500	-13,100	11,800	34,600	-5,800	-20,600	-21,900	-10,200	20,700	-7,700	-13,300	-700	4,400	-14,800	-6,800	-33,700	12,300	22,200	6,900	8,700	5,200	-8,100	-6,900	-8,400	11,800	500	-7,800	2,600	6,900	-1,800	400	0
Change Receivables	0	0	34,900	-28,000	-51,100	-38,200	-37,700	-35,900	-4,100	-34,400	31,200	11,800	-32,800	32,100	21,900	47,100	-9,400	-50,700	9,300	-40,500	15,700	30,400	-9,200	-13,800	-20,400	7,400	11,600	-12,500	4,200	-46,900	26,500	-4,500	34,600	-30,100	9,100	100	5,500	-32,600	-2,600	-2,100	38,300	-28,900	-5,400	-8,900	4,300	-30,700	14,500	-11,600	9,300	-11,100	11,500	-1,800	-7,400	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Account Receivables	36,700	47,800	39,500	-28,000	-51,100	-115,900	-77,700	-40,000	-4,100	-24,200	38,500	9,000	-32,800	91,700	20,800	49,200	-9,400	-66,200	9,300	-40,500	15,700	10,700	-9,200	-13,800	-20,400	10,700	3,300	0	4,200	9,700	56,600	30,100	34,600	-15,400	14,700	5,600	5,500	1,000	33,600	36,200	38,300	-18,500	0	0	4,300	-30,700	14,500	-11,600	9,300	-11,100	11,500	-4,600	-4,600	-3,600	1,200	500	-3,000	-200	6,900	0	-9,000	4,500	5,200	0	-2,500	1,300	7,800	-4,500	1,300	0
Change To Inventory	-1,700	24,700	19,300	10,500	2,700	-18,800	-33,100	-41,500	-32,100	-2,800	-25,000	-3,500	-2,100	22,600	500	9,100	26,300	6,400	-2,900	-3,200	-8,900	8,400	-6,800	-11,300	-14,300	10,100	-4,800	4,800	-4,700	10,300	-4,000	12,600	-7,600	15,100	6,900	-5,100	-11,700	9,500	-1,900	-4,700	400	15,200	5,200	-2,300	8,400	4,600	-3,300	-800	-6,700	3,200	-4,800	-1,400	-2,900	6,200	15,000	-300	4,100	1,500	4,600	2,900	-2,900	1,200	-500	-1,200	-1,200	4,800	-100	-1,400	-1,500	5,000
Change To Liabilities	0	-71,000	-24,100	3,600	1,600	60,500	10,200	53,000	1,800	27,500	96,900	97,500	11,900	53,300	-35,300	-55,700	-16,600	79,600	17,900	-2,300	-22,400	-22,000	42,800	12,100	37,500	65,500	14,900	21,300	-15,100	31,000	26,400	6,000	-40,100	13,800	400	1,900	-78,200	24,500	21,100	3,300	-24,800	26,400	500	2,600	-26,300	15,500	8,500	3,800	-14,400	4,900	300	-9,000	-1,900	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Netincome	0	-7,300	-126,000	21,400	-25,200	38,700	-1,900	6,000	-11,000	13,700	-700	-24,200	-14,400	86,000	29,900	65,500	-22,600	2,400	-2,800	7,000	4,200	11,100	9,400	70,000	-13,200	7,700	14,200	9,500	-66,700	5,900	5,400	-7,500	7,400	3,900	7,200	9,700	-2,500	-8,500	-8,900	1,400	-1,800	-2,600	-4,200	-20,500	12,000	2,400	500	9,000	-3,200	600	7,400	1,200	2,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Change To Operating Activities	0	25,600	25,600	-6,800	900	-5,000	-62,400	-19,100	-1,700	-5,100	7,500	1,000	-5,100	12,500	-2,200	-5,800	14,500	-1,600	19,400	-17,600	-7,800	-38,200	44,300	-17,700	17,300	58,400	9,900	-100	-2,800	-5,200	9,700	-8,200	0	-7,500	0	0	0	28,500	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	38,800	32,500	31,100	31,000	31,000	26,700	26,600	27,000	27,900	28,800	28,700	28,300	29,300	32,200	33,900	38,600	25,900	14,200	15,100	15,100	14,100	14,500	14,200	14,000	13,800	14,500	13,500	13,600	15,000	14,200	14,300	15,900	16,000	13,200	12,700	13,400	15,000	14,700	14,700	14,700	14,300	19,100	27,400	27,900	15,000	9,400	9,300	9,500	12,200	10,100	8,700	8,600	8,700	9,000	10,500	4,500	4,500	4,800	4,700	4,600	4,500	5,000	4,800	4,800	4,500	5,300	4,600	4,400	4,200	0
Dividends Paid	15,600	15,400	15,300	15,300	15,300	15,000	15,300	15,900	15,800	15,600	16,100	16,200	16,100	15,800	15,900	15,900	15,800	13,200	13,200	13,100	13,100	13,000	12,900	13,100	13,100	12,900	13,000	13,000	13,000	12,800	12,900	12,700	12,700	12,600	12,600	12,600	12,600	12,500	12,400	12,400	12,400	12,200	12,200	12,200	12,100	11,800	12,000	11,900	11,900	11,700	11,700	11,800	11,700	11,500	11,600	11,600	11,500	11,400	11,300	11,500	11,400	11,400	11,400	0	0	0	0	0	0	0
End Period Cash Flow	199,600	250,200	291,300	315,900	195,800	237,600	285,500	446,000	448,200	450,900	477,700	347,300	267,400	311,800	264,900	374,400	142,900	399,400	65,000	59,400	65,300	56,000	71,100	68,500	77,800	66,000	71,500	51,400	46,600	52,000	47,600	43,200	55,100	48,300	45,600	43,000	52,000	58,000	61,700	51,000	62,300	42,700	41,100	40,700	102,100	20,200	16,000	60,100	123,000	115,500	198,300	160,300	136,000	98,400	82,200	72,900	4,100	35,200	28,800	43,200	20,300	14,700	33,000	125,900	11,800	11,900	8,900	7,400	10,100	7,900
Exchange Rate Changes	0	0	0	0	0	-16,800	0	0	0	8,000	0	0	0	-1,400	0	0	0	-2,100	-2,300	1,800	300	-1,700	-2,700	-1,200	2,900	-4,200	1,200	1,100	-1,700	100	-1,100	-3,100	1,500	-500	-1,100	-1,800	1,400	-2,000	2,800	-500	-800	-1,200	300	-100	800	1,600	-1,900	2,600	-2,200	-7,300	6,500	1,600	3,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Free Cash Flow	-36,400	50,200	75,000	33,400	-20,900	79,000	-8,900	35,900	34,800	67,500	173,500	186,800	60,600	219,100	69,500	18,800	11,500	56,400	58,800	6,300	31,900	81,300	89,100	29,600	21,300	134,700	78,800	64,000	-53,300	42,900	96,000	48,900	29,200	18,200	57,500	45,900	-47,600	37,000	48,200	30,500	40,300	65,600	23,200	-10,700	14,100	21,700	43,600	29,200	22,800	23,700	98,800	21,000	24,100	-4,900	24,800	48,600	33,400	35,400	31,000	25,600	21,200	7,100	39,600	24,700	20,400	21,700	32,700	29,100	28,200	105,800
Investments	-15,100	-747,300	-13,500	680,500	-642,000	-95,200	-25,300	-8,700	-14,200	-18,100	-10,000	100,300	53,800	-9,100	-4,400	213,700	-1,496,100	-12,800	-4,000	-4,600	0	0	0	0	0	3,200	3,200	3,200	3,200	1,100	1,100	1,100	0	1,500	0	0	0	2,300	-200	5,700	0	300	900	400	1,400	2,400	400	0	0	-2,200	4,000	13,100	1,900	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Issuance Of Capital Stock	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Borrowings	0	687,500	22,000	-590,300	629,400	8,700	-3,500	8,700	8,700	0	-1,900	-185,300	-157,000	-161,200	-163,800	11,500	1,235,500	294,200	-38,600	-2,400	20,600	-268,700	-49,700	138,200	10,300	3,400	3,400	-46,100	52,800	2,200	2,300	-92,900	97,400	32,900	-41,400	-42,000	59,500	2,500	2,500	19,200	-14,200	185,600	0	-294,800	494,800	-4,300	-74,000	-84,000	0	100	-171,000	0	20,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	19,200	19,200	44,000	24,100	26,800	59,200	50,100	55,800	50,100	57,000	41,500	79,000	77,700	-5,400	25,000	-72,200	-800	26,000	31,700	39,500	29,000	47,200	36,200	-21,300	19,100	37,900	34,600	34,000	21,900	37,300	31,300	27,200	21,000	19,800	32,500	31,200	29,700	22,900	33,400	33,300	21,600	23,900	13,700	13,200	14,600	24,800	21,300	27,400	31,300	23,500	22,500	33,000	27,100	20,100	13,300	29,400	29,500	22,600	25,400	27,800	26,500	19,200	26,700	23,300	24,000	18,600	21,500	33,300	26,100	113,200
Other Cashflows From Financing Activities	25,200	785,200	60,800	73,700	951,900	82,700	-4,000	9,400	7,300	-2,300	-45,400	521,000	225,000	193,700	466,700	329,300	1,468,800	813,500	108,300	183,200	155,500	-4,500	-800	-3,800	2,800	101,200	-2,300	-1,300	191,800	-1,900	600	-300	800	93,700	82,100	200	1,000	69,900	65,100	78,400	101,500	61,900	71,700	43,700	732,600	394,700	149,800	-82,300	500	159,200	92,100	8,400	20,000	-1,400	-300	-200	-71,500	100	-1,900	14,900	800	-4,600	-135,600	89,000	-20,200	-18,500	-31,300	-27,200	-26,500	0
Other Cashflows From Investing Activities	0	696,700	400	694,300	-631,200	-93,100	-17,300	1,600	-4,500	165,900	165,900	165,700	59,400	228,900	-221,500	222,400	-1,489,800	100	300	100	-26,200	3,300	300	100	200	3,400	-200	2,000	100	2,500	200	-236,200	100	500	100	1,500	-2,100	5,600	300	2,200	-600	300	100	-100	-414,400	-4,400	0	0	0	-240,500	91,400	-100	-200	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Non Cash Items	-2,600	6,500	-3,800	-3,400	-600	-2,800	-4,700	-600	-3,700	11,100	200	-28,100	-31,300	78,900	3,700	81,000	-1,300	-14,400	2,800	-2,200	-1,100	-700	1,200	61,600	-600	-1,500	-1,200	500	-80,700	-1,000	11,400	-9,300	6,300	4,500	5,600	1,900	-5,200	-6,200	-2,000	-10,800	1,900	600	1,300	-1,400	2,800	1,200	-1,000	-1,500	1,100	3,000	60,400	-3,200	-2,200	12,300	-4,100	-4,000	-3,600	-3,400	-1,500	-8,000	-2,900	-2,300	-2,600	-200	0	4,500	5,600	-4,500	-400	0
Sale Purchase Of Stock	-600	-1,100	9,300	3,700	6,900	-36,900	-111,500	-26,600	-28,900	-77,700	-43,000	5,500	3,200	800	200	200	200	200	1,000	5,200	-3,800	-400	-21,700	-23,700	-15,200	0	-11,000	-17,000	8,600	-4,600	-12,600	-1,000	-3,000	-2,000	100	-2,400	-6,800	-16,500	0	8,900	7,600	0	0	0	0	-22,500	0	0	0	-3,800	0	700	0	148,400	374,900	64,800	96,300	0	0	-6,200	-6,300	-6,200	0	0	0	0	0	0	0	0
Stock Based Compensation	5,200	4,800	2,200	6,700	5,100	4,900	4,400	6,100	5,900	5,000	4,300	6,200	4,200	4,600	3,700	3,400	8,200	3,300	2,900	3,900	1,900	3,300	2,600	3,900	2,300	2,400	2,400	3,100	2,600	2,300	2,500	3,100	600	3,100	2,600	4,100	2,200	1,300	1,100	3,400	1,700	1,400	-1,000	1,500	4,500	1,600	200	1,600	5,300	3,200	2,300	3,700	2,500	200	2,500	2,800	2,100	1,200	1,300	11,600	1,900	1,600	0	0	0	-1,200	0	0	0	0
Total Cash From Financing Activities	-17,100	672,000	16,000	-604,900	610,300	-42,900	-130,800	-33,100	-37,400	-91,700	-61,500	-196,000	-174,100	-176,200	-181,500	-8,800	1,221,400	280,000	-51,200	-14,100	2,800	-98,000	-84,100	-37,800	-12,600	-142,600	-59,700	-62,300	49,500	-42,200	-90,700	72,800	81,700	-17,000	-53,900	-54,600	42,300	-46,600	-40,400	-49,200	-19,300	-63,400	-24,100	-56,000	480,000	-17,100	-86,200	-94,200	-14,000	143,500	-162,700	-11,100	8,300	1,900	340,000	19,400	-71,500	-30,600	-46,300	-2,800	-17,700	-27,600	-135,600	89,000	-20,200	-18,500	-31,300	-27,200	-26,500	0
Total Cash From Operating Activities	-24,000	73,400	88,900	50,300	-5,600	96,800	3,600	46,200	44,500	85,700	183,700	192,800	66,200	234,700	74,800	27,500	17,800	69,300	63,100	11,000	35,500	92,000	94,800	34,600	26,900	142,500	83,900	68,500	-48,700	48,500	102,500	51,500	35,700	29,500	65,300	52,100	-41,900	42,700	54,700	36,300	45,900	76,400	31,100	-5,100	19,700	28,600	49,500	33,100	27,000	34,200	102,100	25,400	27,800	1,200	28,000	52,600	36,400	38,300	33,300	28,300	23,300	11,000	41,300	26,800	22,700	27,400	38,600	31,400	29,900	124,600
Total Cashflows From Investing Activities	0	-747,300	-13,500	680,500	-642,000	-95,200	-25,300	-8,700	-14,200	-18,100	-10,000	100,300	53,800	-9,100	-4,400	213,700	-1,496,100	-12,800	-4,000	-4,600	-29,800	-7,400	-5,400	-4,900	-5,400	-1,200	-5,300	-2,500	-4,500	-2,000	-6,300	-133,100	-112,100	-9,300	-7,700	-4,700	-7,800	2,200	-6,400	2,100	-6,200	-10,200	-6,900	-5,300	-418,600	-8,900	-5,500	-3,900	-4,200	-253,200	92,100	8,400	-1,800	0	0	500	3,900	0	0	0	800	0	0	0	0	0	0	0	0	0

Income Statement

Currency in USD. All numbers in thousands.

	2023-09-30	2022-09-30	2021-09-30	2020-09-30	2019-09-30	2018-09-30	2017-09-30	2016-09-30	2015-09-30	2014-09-30	2013-09-30	2012-09-30	2011-09-30	2010-09-30	2009-09-30	2008-09-30	2007-09-30	2006-09-30	2005-09-30	2004-09-30	2003-09-30	2002-09-30	2001-09-30	2000-09-30
Cost Of Revenue	1,877,800	1,986,300	1,907,500	1,703,700	1,184,300	1,127,200	998,900	967,800	1,026,400	1,078,000	1,026,200	594,300	513,500	435,900	374,700	397,600	388,600	1,113,100	0	0	0	0	0	0
Depreciation And Amortization	79,600	54,000	55,700	71,900	32,500	30,200	29,200	33,000	54,300	58,400	89,400	40,400	36,100	28,500	18,600	19,100	18,500	108,800	0	0	0	0	0	0
Discontinued Operations	462,600	99,500	127,200	127,200	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	294,600	386,900	375,500	203,700	204,100	233,200	213,500	189,400	190,500	179,500	116,300	150,400	170,400	150,100	168,500	149,600	160,700	365,700	659,400	640,300	331,300	46,000	242,000	204,000
Ebitda	374,200	440,900	431,200	275,600	236,600	263,400	242,700	222,400	244,800	237,900	205,700	190,800	206,500	178,600	187,100	168,700	179,200	474,500	659,400	640,300	331,300	46,000	242,000	204,000
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	0	0	0	-10,900	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	948,200	954,600	957,300	813,300	623,000	642,900	591,300	570,600	570,400	589,200	527,200	388,900	369,900	313,300	274,400	280,500	278,600	849,800	659,400	640,300	1,693,900	1,736,000	1,673,000	1,637,000
Income Before Tax	216,900	314,000	353,800	-18,500	176,700	146,500	188,300	164,100	162,300	159,900	93,700	134,900	157,800	146,400	160,800	153,300	157,000	339,000	0	0	280,300	19,000	221,000	204,000
Income Tax Expense	102,800	98,800	98,600	34,900	50,500	65,300	59,900	47,300	49,100	48,700	28,300	30,100	51,700	54,100	58,500	60,100	57,500	117,500	-102,800	-113,800	99,700	-37,000	52,000	74,000
Interest Expense	77,700	69,800	77,600	77,400	27,400	23,300	25,200	25,300	23,800	23,300	24,000	12,400	11,000	4,200	2,100	2,200	1,400	21,300	0	0	0	0	0	0
Interest Income	8,600	64,100	74,100	73,000	33,600	24,500	27,000	24,700	30,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	-7,000	-6,300	5,300	6,700	4,800	4,600	2,200	4,000	1,800	1,500	2,000	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	569,700	208,900	249,900	-53,400	121,400	76,600	126,200	112,800	111,400	109,700	63,400	104,800	106,100	92,300	102,300	93,200	99,500	221,200	102,800	113,800	189,000	44,000	170,000	154,000
Net Income Applicable To Common Shares	569,700	208,900	249,900	-60,100	121,400	76,600	126,200	112,800	111,400	109,700	63,400	104,800	106,100	92,300	102,300	93,200	99,500	113,200	0	0	0	0	0	0
Net Income From Continuing Ops	114,100	215,200	255,200	-53,400	227,200	211,800	248,200	116,800	113,200	111,200	65,400	104,800	106,100	92,300	0	0	0	0	0	0	0	0	0	0
Net Interest Income	-77,700	-64,300	-74,200	-74,200	-27,400	-23,300	-25,200	-25,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	0	5,300	67,400	500	-6,700	-600	-4,200	-1,700	-7,900	8,700	-400	-1,500	10,200	12,700	0	0	0	0	0	0	0	0	0	0
Non Recurring	0	0	11,200	144,800	0	-63,400	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	114,100	386,900	375,500	203,700	204,100	233,800	217,700	191,100	194,000	174,500	118,100	148,800	158,600	137,900	155,000	149,600	160,700	323,000	659,400	640,300	331,300	46,000	242,000	204,000
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	2,531,400	2,562,400	2,489,600	2,313,800	1,596,500	1,536,300	1,372,500	1,347,300	1,402,800	1,492,700	1,435,300	834,400	724,800	611,300	494,100	528,500	506,500	1,639,900	0	0	1,362,600	1,690,000	1,431,000	1,433,000
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	79,600	108,200	115,100	130,600	58,500	56,500	56,600	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Research Development	25,400	19,800	21,400	18,600	10,600	11,700	11,900	12,600	12,700	14,400	12,200	5,200	4,500	3,800	3,800	3,600	3,200	2,700	0	0	0	0	0	0
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	0	0	0	0	353,800	373,100	0	0	17,700	380,000	391,200	240,100	211,300	166,600	119,300	130,900	117,900	105,300	0	0	0	0	0	0
Tax Provision	102,800	98,800	98,600	34,900	50,500	65,300	59,900	47,300	49,100	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	653,600	576,100	582,100	610,100	412,200	409,100	373,600	379,500	376,400	414,700	409,100	240,100	211,300	175,400	119,400	130,900	117,900	526,800	0	0	1,362,600	1,690,000	1,431,000	1,433,000
Total Other Income Expense Net	102,800	-72,900	-21,700	-222,200	-27,400	-64,000	-4,200	-1,700	-7,900	8,700	-400	-1,500	-1,600	500	-5,600	3,700	-3,700	-5,400	0	0	-51,000	-27,000	-21,000	0
Total Revenue	2,826,000	2,940,900	2,864,800	2,517,000	1,807,300	1,770,100	1,590,200	1,538,400	1,596,800	1,667,200	1,553,400	983,200	883,400	749,200	649,100	678,100	667,200	1,962,900	659,400	640,300	1,693,900	1,736,000	1,673,000	1,637,000

	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30
Cost Of Revenue	522,300	495,300	469,700	461,600	444,800	507,200	489,300	498,700	491,100	513,600	469,200	476,400	448,300	453,200	400,200	455,200	395,100	319,100	298,200	303,700	263,300	310,500	282,300	283,500	250,900	278,600	243,500	246,700	230,100	272,500	227,500	244,300	223,500	247,500	259,800	256,000	263,100	302,600	267,500	254,000	253,900	296,000	273,700	261,900	194,600	153,400	147,600	155,400	138,000	140,500	125,100	128,100	119,800	123,300	130,200	92,900	89,500	88,800	92,700	96,500	127,600	94,800	98,600	108,200	96,000	95,300	98,700	101,200	93,400	378,300
Depreciation And Amortization	38,800	21,000	31,100	31,000	19,100	13,200	26,600	27,000	27,900	13,900	28,700	28,300	29,300	16,700	33,900	38,600	25,900	7,500	15,100	15,100	14,100	7,500	14,200	14,000	13,800	7,500	13,500	13,600	15,000	7,400	7,200	15,900	16,000	13,200	12,700	13,400	15,000	14,700	14,700	14,700	14,300	19,100	27,400	27,900	15,000	9,400	9,300	9,500	12,200	10,100	8,700	8,600	8,700	9,000	10,500	4,500	4,500	4,800	4,700	4,600	4,500	5,000	4,800	4,800	4,500	5,300	4,600	4,400	4,200	0
Discontinued Operations	0	1,200	1,000	439,400	21,000	21,000	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Ebit	59,300	93,600	86,500	69,600	52,400	99,600	91,500	101,900	95,300	97,300	85,000	94,800	98,200	96,200	72,700	34,200	1,400	47,900	49,000	58,600	48,600	65,500	57,000	61,700	49,400	65,900	57,200	55,800	35,500	59,100	48,800	45,700	35,700	35,100	52,200	55,200	48,000	42,900	51,700	47,800	22,600	42,500	25,400	-2,600	23,400	38,800	34,000	43,900	21,800	45,600	34,900	47,800	45,500	37,700	22,700	45,200	36,600	36,100	41,900	48,000	38,900	32,300	33,600	41,000	39,600	33,000	33,800	52,200	42,100	0
Ebitda	98,100	114,600	117,600	100,600	71,500	112,800	118,100	128,900	123,200	111,200	113,700	123,100	127,500	112,900	106,600	72,800	27,300	55,400	64,100	73,700	62,700	73,000	71,200	75,700	63,200	73,400	70,700	69,400	50,500	66,500	56,000	61,600	51,700	48,300	64,900	68,600	63,000	57,600	66,400	62,500	36,900	61,600	52,800	25,300	38,400	48,200	43,300	53,400	34,000	55,700	43,600	56,400	54,200	46,700	33,200	49,700	41,100	40,900	46,600	52,600	43,400	37,300	38,400	45,800	44,100	38,300	38,400	56,600	46,300	0
Effect Of Accounting Charges	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Extraordinary Items	0	0	1,000	439,400	21,000	0	0	0	27,900	0	0	0	0	0	0	0	0	0	0	-500	-24,600	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Gross Profit	251,000	267,500	246,900	229,300	210,900	242,700	231,300	243,300	237,300	241,300	225,900	245,900	244,200	240,500	207,300	193,700	171,800	166,700	148,400	160,900	147,000	164,200	163,700	168,700	146,300	164,300	152,400	148,600	126,000	156,200	143,500	142,700	128,200	144,500	138,900	148,600	138,400	166,100	149,300	142,800	131,000	144,900	135,100	136,600	110,600	100,100	90,800	104,300	94,000	90,700	86,100	101,900	91,200	88,700	75,600	77,000	72,000	64,300	66,000	74,300	38,900	64,000	66,400	83,200	66,900	62,900	66,900	80,000	68,800	296,300
Income Before Tax	29,500	71,800	67,800	48,200	29,100	82,500	72,900	85,200	73,400	69,500	65,900	109,400	109,000	11,800	53,300	-70,400	-13,200	36,600	43,300	53,300	43,500	60,000	51,400	-7,700	42,800	59,600	51,200	48,900	28,600	52,700	42,200	39,500	29,700	29,000	46,300	45,500	41,500	36,200	46,100	47,000	30,600	35,200	19,500	18,500	20,500	34,300	29,900	40,700	30,000	32,000	33,000	50,500	42,300	32,900	22,600	46,300	44,600	36,100	40,300	43,000	41,400	33,500	41,000	40,800	38,000	29,300	33,800	52,200	41,700	178,800
Income Tax Expense	10,000	52,600	23,800	24,100	2,300	23,300	22,800	29,400	23,300	12,500	24,400	30,400	31,300	17,200	28,300	1,800	-12,400	10,600	11,600	13,800	14,500	12,800	15,200	13,600	23,700	21,700	16,600	14,900	6,700	15,400	10,900	12,300	8,700	9,200	13,800	14,300	11,800	13,300	12,700	13,700	9,000	11,300	5,800	5,300	5,900	9,500	8,600	13,300	-1,000	8,500	10,500	17,500	15,200	12,800	9,300	16,900	15,100	13,500	14,900	15,200	14,900	14,300	14,300	17,500	14,000	10,700	12,300	18,900	15,600	65,600
Interest Expense	29,800	21,800	18,600	21,100	23,300	17,100	17,500	17,300	17,900	17,900	19,000	19,500	21,200	22,100	19,700	20,900	14,700	11,300	5,200	5,400	5,500	5,500	5,500	6,000	6,300	6,300	6,500	6,300	6,100	6,400	6,600	6,400	5,900	6,000	5,700	6,400	5,700	5,800	5,600	5,600	6,300	6,800	5,900	6,800	4,500	3,600	3,000	2,800	3,000	2,700	2,600	2,900	2,800	2,700	1,000	300	200	300	300	400	1,100	1,800	1,400	0	400	400	1,000	400	400	0
Interest Income	0	0	2,800	2,500	21,500	14,000	1,300	1,800	900	17,100	900	1,000	600	22,400	600	600	1,300	33,600	5,600	5,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	-2,000	-2,200	1,700	800	2,300	-2,400	1,300	1,500	1,100	2,000	22,200	900	1,300	1,600	1,000	1,800	2,300	1,300	1,300	1,500	700	2,700	300	600	1,000	-300	1,700	600	200	1,300	600	1,100	1,000	700	400	500	200	-700	600	300	1,300	800	400	500	300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Income	17,200	18,200	43,300	24,100	26,800	56,800	48,800	54,300	49,000	55,000	40,400	78,100	76,400	-7,100	24,000	-74,000	-3,100	24,700	30,400	38,000	28,300	44,500	35,900	-21,900	18,100	38,200	32,900	33,400	21,700	36,000	30,700	26,100	20,000	19,100	32,100	30,700	29,500	23,600	32,800	33,000	20,300	23,100	13,300	12,700	14,300	24,800	21,300	27,400	31,000	23,500	22,500	33,000	27,100	20,100	13,300	29,400	29,500	22,600	25,400	27,800	26,500	19,200	26,700	23,300	24,000	18,600	21,500	33,300	26,100	113,200
Net Income Applicable To Common Shares	0	18,200	43,300	462,700	45,500	56,800	48,800	54,300	49,000	55,000	40,400	78,100	76,400	-7,000	24,000	-74,000	-3,100	24,700	30,400	38,000	28,300	44,500	35,900	-21,900	18,100	38,200	32,900	33,400	21,700	36,000	30,700	26,100	20,000	19,100	32,100	30,700	29,500	23,600	32,800	33,000	20,300	23,100	13,300	12,700	14,300	24,800	21,300	27,400	31,300	23,500	22,500	33,000	27,100	20,100	13,300	29,400	29,500	22,600	25,400	27,800	26,500	19,200	26,700	23,300	24,000	18,600	21,500	33,300	26,100	113,200
Net Income From Continuing Ops	19,500	19,200	44,000	24,100	26,800	59,200	50,100	55,800	50,100	57,000	41,500	79,000	77,700	-5,400	25,000	-72,200	-800	98,000	31,700	39,500	58,000	177,800	36,200	-21,300	19,100	157,700	34,600	34,000	21,900	37,300	31,300	27,200	21,000	19,800	32,500	31,200	29,700	22,900	33,400	33,300	21,600	23,900	13,700	13,200	14,600	24,800	21,300	27,400	31,300	23,500	22,500	33,000	27,100	0	13,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Net Interest Income	-29,800	-21,800	-15,800	-18,600	-21,500	-15,600	-16,200	-15,500	-17,000	-17,000	-18,100	-18,500	-20,600	-21,400	-19,100	-20,300	-13,400	-11,300	-5,200	-5,400	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Operating Income Net Other	0	0	4,000	4,400	-2,900	1,400	1,200	4,700	-2,000	1,400	-300	35,100	31,200	-1,300	600	-700	1,900	-6,800	-500	100	500	1,800	-800	-1,200	-400	-1,200	-1,100	-600	-1,300	200	-300	-900	-700	-1,600	-1,300	-5,000	0	-1,000	100	9,700	-100	-700	-300	-300	900	-600	-100	-300	-500	900	700	5,600	3,000	0	3,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Non Recurring	0	0	0	0	0	0	0	0	0	11,200	0	0	0	62,300	0	82,500	0	0	0	0	0	63,400	-63,400	-63,400	63,400	-63,400	63,400	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Operating Income	19,500	93,600	44,000	69,600	52,400	99,600	91,500	101,900	90,200	97,200	85,200	93,800	99,000	97,500	53,300	13,400	-400	54,700	49,000	58,600	48,500	63,700	57,700	56,900	49,500	67,100	58,800	49,500	36,000	58,900	49,100	46,800	36,300	36,600	53,300	50,500	47,200	43,000	46,000	37,300	37,000	42,700	25,700	25,600	24,100	38,600	33,000	41,000	33,400	33,800	34,900	44,900	42,100	34,800	19,800	42,200	41,100	32,700	38,700	44,700	38,900	32,300	38,000	40,900	39,600	34,000	32,800	51,800	42,100	176,400
Other Items	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Other Operating Expenses	714,000	669,200	634,200	626,000	606,200	653,900	631,400	644,200	632,900	657,700	609,900	628,500	593,500	596,200	535,100	615,200	567,300	431,100	397,600	406,000	361,800	411,000	388,300	389,300	347,700	375,800	337,100	339,500	320,100	369,800	321,900	340,200	315,400	355,400	345,400	347,700	354,300	425,700	365,200	353,900	347,900	398,200	383,100	372,900	281,100	214,900	205,400	215,900	198,000	197,400	176,300	182,200	168,900	177,200	186,000	127,700	120,400	120,400	120,000	126,100	127,600	126,500	127,000	150,500	123,300	124,200	132,800	129,400	120,100	0
Preferred Stock And Other Adjustments	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Reconciled Depreciation	38,800	21,000	31,100	31,000	31,000	26,700	26,600	27,000	27,900	28,800	28,700	28,300	29,300	32,200	33,900	38,600	25,900	14,200	15,100	15,100	14,100	14,500	14,200	14,000	13,800	14,500	13,500	13,600	15,000	14,200	14,300	15,900	16,000	13,200	12,700	13,400	15,000	14,700	14,700	14,700	14,300	19,100	27,400	27,900	15,000	9,400	9,300	9,500	12,200	10,100	8,700	8,600	8,700	9,000	10,500	4,500	4,500	4,800	4,700	4,600	4,500	5,000	4,800	4,800	4,500	5,300	4,600	4,400	4,200	0
Research Development	0	0	0	0	0	20,900	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	11,700	0	0	0	11,900	0	0	0	12,600	0	0	0	12,700	0	0	0	14,400	0	0	0	12,200	0	0	0	5,200	0	0	0	4,500	0	0	0	3,800	0	0	0	3,800	0	0	0	3,600	0	0	0	3,200	0	0	0	2,700
Selling And Marketing Expenses	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Selling General Administrative	8,300	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	102,900	86,000	85,100	93,200	89,600	91,800	98,100	97,200	86,500	87,900	85,400	84,300	80,800	88,300	83,200	83,400	79,000	17,700	78,300	83,800	82,100	97,500	93,000	97,600	91,900	95,200	104,400	106,000	77,100	61,500	57,800	60,500	60,300	56,900	51,200	54,100	49,100	51,000	49,600	33,800	32,200	31,600	27,300	29,600	31,700	31,700	28,400	42,300	27,300	28,900	34,100	28,200	26,700	105,300
Tax Provision	10,000	52,600	23,800	24,100	2,300	23,300	22,800	29,400	23,300	12,500	24,400	30,400	31,300	17,200	28,300	1,800	-12,400	10,600	11,600	13,800	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
Total Operating Expenses	191,700	173,900	164,500	164,400	161,400	146,700	142,100	145,500	141,800	144,100	140,700	152,100	145,200	143,000	134,900	160,000	172,200	112,000	99,400	102,300	98,500	100,500	106,000	105,800	96,800	97,200	93,600	92,800	90,000	97,300	94,400	95,900	91,900	107,900	85,600	91,700	91,200	123,100	97,700	99,900	94,000	102,200	109,400	111,000	86,500	61,500	57,800	60,500	60,000	56,900	51,200	54,100	49,100	53,900	55,800	34,800	30,900	31,600	27,300	29,600	30,900	31,700	28,400	42,300	27,300	28,900	34,100	28,200	26,700	0
Total Other Income Expense Net	10,000	-21,800	1,200	-21,400	-23,300	-17,100	-18,600	-16,700	-5,100	-9,800	-1,200	34,100	30,600	-63,600	-19,100	-83,800	600	-6,800	-500	100	500	1,800	-800	-64,600	-400	-1,200	-1,100	-600	-1,300	200	-300	-900	-700	-1,600	-1,300	-5,000	-5,700	-1,000	100	9,700	-100	-700	-300	-300	900	-700	-100	-400	-1,000	-10,900	700	5,600	200	-2,100	900	1,400	3,700	300	-1,300	-4,600	2,500	1,200	4,400	-100	-1,600	-4,700	1,000	400	-400	0
Total Revenue	773,300	762,800	716,600	690,900	655,700	749,900	720,600	742,000	728,400	754,900	695,100	722,300	692,500	693,700	607,500	648,900	566,900	485,800	446,600	464,600	410,300	474,700	446,000	452,200	397,200	442,900	395,900	395,300	356,100	428,700	371,000	387,000	351,700	392,000	398,700	404,600	401,500	468,700	416,800	396,800	384,900	440,900	408,800	398,500	305,200	253,500	238,400	259,700	232,000	231,200	211,200	230,000	211,000	212,000	205,800	169,900	161,500	153,100	158,700	170,800	166,500	158,800	165,000	191,400	162,900	158,200	165,600	181,200	162,200	674,600

Latest Income Statement (annual, 2023-09-30)

Gross Profit (+$)
totalRevenue	2,826,000
Cost of Revenue	-1,877,800
Gross Profit	948,200	948,200

Operating Income (+$)
Gross Profit	948,200
Operating Expense	-653,600
Operating Income	114,100	294,600

Operating Expense (+$)
Research Development	25,400
Selling General Administrative	0
Selling And Marketing Expenses	0
Operating Expense	653,600	25,400

Net Interest Income (+$)
Interest Income	8,600
Interest Expense	-77,700
Other Finance Cost	-8,600
Net Interest Income	-77,700

Pretax Income (+$)
Operating Income	114,100
Net Interest Income	-77,700
Other Non-Operating Income Expenses	0
Income Before Tax (EBT)	216,900	11,300 EBIT - interestExpense = 216,900 672,500 647,400
Interest Expense	77,700
Earnings Before Interest and Taxes (EBIT)	294,600	294,600
Earnings Before Interest and Taxes (EBITDA)	374,200

After tax Income (+$)
Income Before Tax	216,900
Tax Provision	-102,800
Net Income From Continuing Ops	114,100	114,100
Net Income	569,700
Net Income Applicable To Common Shares	569,700

Non-recurring Events
Discontinued Operations	462,600
Extraordinary Items	0
Effect of Accounting Charges	0
Other Items	0
Non Recurring	0
Other Operating Expenses	2,531,400
Total Other Income/Expenses Net	102,800	77,700

Technical Analysis of Hillenbrand
The psychology behind the price

Technical indicators reflecting market sentiment and the collective psychology of you and other traders. Your emotions and other traders' emotions, such as fear and greed, play a significant role in driving price movements.

General trend

First of all, I'm going to put something in the back of your mind. One of the most stable factors that gives you more confidence as a trader: the general trend of Hillenbrand. The general trend of Hillenbrand is BULLISH with 57.1% confidence. It is very important for your mental being to use each indicator with this in mind. But beware, also the general trend flips once in a while! You can use moving averages to determine Hillenbrand's overall trend. For convenience I use the most commonly used moving averages: 20, 50, 100 & 200. Of course you can use other moving averages or other indicators to determine the trend.

Indicator phases

Some of the indicators I use have 3 zones: overbought, oversold and neutral. Transitions between these zones (market phases) provide valuable trading signals and insights. Expecially with the general trend mind, I use the highlighted phases:

Indicator zone transitions	Bullish trend (57.1%)		Bearish trend (-57.1%)
Overbought to neutral	Bullish pullback	=	Bearish reversal
Upper to lower neutral	Bullish correction	=	Bearish continuation
Nuetral to oversold	Oversold	=	Oversold
Oversold to neutral	Bullish reversal	=	Bearish correction
Lower to upper neutral	Bullish continuation	=	Bearish pullback
Nuetral to overbought	Overbought	=	Overbought

1. Price Targets

1.1 Support & Resistance

Support and resistance are levels on a price chart that act as barriers or zones where the price of an asset tends to stop, reverse, or experience a significant amount of buying or selling pressure.

Support is a price level at which demand for an asset is strong enough to prevent the price from falling further.
Resistance is a price level at which selling pressure becomes significant enough to prevent the price of an asset from rising further.

Score

Let's take a look at the Support & Resistance of Hillenbrand Inc.

The long score for the Support & Resistance is 0/1.
The longshort score for the Support & Resistance is 0/(-1 +1).

Between support/resistance: The price is trading between support and resistance lines.

The bullish price targets are: 50.06 < 50.58 < 52.53.

The bearish price targets are: 46.16 > 46.16 > 44.05.

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Hillenbrand Inc Daily Support & Resistance Chart

2. Trend Indicators

2.1 Moving Averages

Shows the moving average of the selected period.

Moving averages are lagging trend indicators.
There are many types of moving averages.
Moving averages are also used within other indicators.

Score

Let's take a look at the Moving Averages of Hillenbrand Inc. The current mas is .

The long score for the Moving Averages is 11/14.
The longshort score for the Moving Averages is 8/(-14 +14).

MA 20 trending down: The MA 20 is trending down. -1
Close < MA 20: The price is below the MA 20. -1
MA 20 > MA 50: The MA 20 is higher than the MA 50. +1
MA 20 > MA 100: The MA 20 is higher than the MA 100. +1
MA 20 > MA 200: The MA 20 is higher than the MA 200. +1
MA 50 trending up: The MA 50 is trending up. +1
Close > MA 50: The price is above the MA 50. +1
MA 50 > MA 100: The MA 50 is higher than the MA 100. +1
MA 50 > MA 200: The MA 50 is higher than the MA 200. +1
MA 100 trending up: The MA 100 is trending up. +1
Close > MA 100: The price is above the MA 100. +1
MA 100 > MA 200: The MA 100 is higher than the MA 200. +1
MA 200 trending down: The MA 200 is trending down. -1
Close > MA 200: The price is above the MA 200. +1

Directionalities and relatives.

Moving Average	Amount of candles	vs. MA 50	vs. MA 100	vs. MA 200
MA 20	20
MA 50	50	-
MA 100	100	-	-
MA 200	200	-	-	-

Explanation: https://www.youtube.com/watch?v=xwW8h0lrQ-I

Shows the moving average of the selected period.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

There are various kinds of moving averages:

Simple moving average (SMA);
Exponential moving average (EMA);
Smoothed moving average (SMMA);
Linear weighted moving average (LWMA).

The moving average looks at a certain period of time and it calculates the price average. The various types of averages are using various formulas. Don’t worry, you don’t have to memorize any formula. All moving averages are calculated automatically by basically every charting software you use. But it’s good to know how moving averages are actually calculated.

Simple moving average

SMA is calculated by summing up the price closures of the selected period. The price is then divided by the selected period. For example, when using the 21 day moving average you sum up all the closing prices for each day and divide that by 21. The result is a line on the chart representing the average. Because it’s an average in the selected timeframe, the trend is always lagging. An moving average looks like this on the chart:

Source: Tradingview.com

In this case, the blue line represents a 21 day moving average. Because the average is based on results from the past, the indicator will always lag behind. For example, when price would suddenly go up, the moving average won't immediately follow.

All other moving averages discussed below look the same on the chart. The only difference is that the line will move in different directions based on the maths behind the used indicators and the amount of days used to determine the average.

Exponential moving average

The EMA gives more weight to the latest closing prices by giving them more value in the equation. EMA is calculated by adding a certain percentage to the latest closing prices:

EMA = (CLOSE (i) * P) + (EMA (i - 1) * (1 - P))

Where:

CLOSE (i) = current period close price.
EMA (i - 1) = value of the Moving Average of a preceding period.
P = the percentage of using the price value.

Smoothed moving average

A smoothed moving average is an exponential moving average with a long lookback period. Older prices are reduced in weight but are never left out in the calculation. Unlike SMA and EMA where prices are removed when they are beyond the selected period. SMMA is a combination of the SMA and EMA. The main advantage is that it smooths out fluctuations in price.

Linear weighted moving average

The LWMA gives the latest price the highest weight and then lineary scales down with each price before that. The result is that the LWMA reacts quicker to changes in price than the SMA or EMA. The formula:

LWMA = ((Pn∗W1)+(Pn−1∗W2)+(Pn−2∗W3)...) / ∑W

Where:

P = Price for the period.
n = The most recent period, n-1 is the prior period, and n-2 is two periods prior.
W = The assigned weight to each period, with the highest weight going first and then descending linearly based on the number of periods being used.

Moving averages are widely used by many traders. Which moving average you need depends on your trading strategy. Common practise is using a combination of multiple periods. For example, the EMA21, EMA50, EMA100 and EMA200. How does that look on a chart:

Source: Tradingview.com

The lowest (purple) line on the chart represents the EMA200 then following up the EMA100, EMA50 and EMA21.

You can use moving averages to determine a trend. The 200 moving average is mostly used as a baseline for determining the current trend:

When the 200 moving average is moving up it is considered a bullish trend.
When the 200 moving average is down it is considered a bearish trend.
When moving averages are flatlined, there is no clear trend so you should look for market structure, consolidation or trend reversals. Depending on how you want to trade.

This is not set in stone. Most trading strategies use multiple moving averages each with different settings. While one strategy might use the EMA20, the other uses the SMA21. There can be hundreds of different variations. Moving averages can also be used as support and resistance. More often than not, prices will bounce on moving averages.

Hillenbrand Inc Daily Moving Averages Chart

2.2 Moving Average Convergence/Divergence (MACD)

Shows the momentum of the selected period based on two moving averages.

MACD is a lagging momentum indicator.
Uses two moving averages.
Can show buy or sell signals based on momentum.
Can show overbought. and oversold. levels.

Score

Let's take a look at the Moving Average Convergence/Divergence (MACD) of Hillenbrand Inc. The current macd is -0.21801796.

The long score for the Moving Average Convergence/Divergence (MACD) is 1/4.
The longshort score for the Moving Average Convergence/Divergence (MACD) is -2/(-4 +4).

MACD line < signal line: The MACD line is below the signal line, which indicates a bearish signal in the market. This means that the negative momentum is currently stronger than the average momentum, suggesting that sellers are more active than buyers, and there's a higher probability of the Hillenbrand price going down in the near term. -2
MACD < 0: The MACD is below the zero line (centerline), it indicates a bearish signal for Hillenbrand. This means that the short-term moving average is lower than the long-term moving average, signaling negative momentum and suggesting a higher likelihood of the Hillenbrand price continuing to fall in the near future. It indicates that sellers are gaining control, and there is negativism in the market, leading to potential price decreases. -1
Trending up: The MACD line is trending up. This indicates that the short-term moving average is rising faster than the long-term moving average, suggesting positive momentum in the market. This signals that buyers are becoming more active and confident, leading to potential price increases as traders anticipate further gains and are willing to buy at higher prices. +1

Hillenbrand Inc Daily Moving Average Convergence/Divergence (MACD) Chart

2.3 Directional Movement Index (DMI)

The DMI is a collection of 3 indicators: +DI (Plus Direction Indicator), -DI (Minus Direction Indicator) and ADX (Average Directional Index). The ADX helps you determine the strength of a trend.

Score

Let's take a look at the Directional Movement Index (DMI) of Hillenbrand Inc. The current adx is 13.36.

The long score for the Directional Movement Index (DMI) is 0/7.
The longshort score for the Directional Movement Index (DMI) is -1/(-7 +7).

PLUS_ID < MINUS_DI: The +DI line is below the -DI line. This indicates a bearish signal in the market, as the negative directional movement is currently stronger than the positive directional movement, showing that sellers have the upper hand. Market psychology suggests that traders are pessimistic, expecting further price decreases, and are more willing to sell Hillenbrand shares, leading to potential downward momentum in its price. -1
PLUS_ID < MINUS_DI && ADX < 25 && ADX trending down: The ADX is below 25 and indicates a weak or no trend. Also, the ADX is declining so there is no trend indication.

Hillenbrand Inc Daily Directional Movement Index (DMI) Chart

2.4 Parabolic SAR

Shows the current trend and potential entry and exit signals.

Parabolic SAR (stop and reverse) is a lagging trend indicator.
Shows the current trend.
Shows potential entry signals.
Shows potential exit signals.
Can be used to place trailing stoplosses..

Score

Let's take a look at the Parabolic SAR of Hillenbrand Inc. The current sar is 48.98.

The long score for the Parabolic SAR is 0/1.
The longshort score for the Parabolic SAR is -1/(-1 +1).

Close < SAR: The price is below the SAR. It's generally considered a bearish signal. -1

Hillenbrand Inc Daily Parabolic SAR Chart

3. Momentum Indicators

3.1 Relative Strength Index (RSI)

Measures the speed and change of price movements.

Leading momentum indicator, meaning the signals are instant.
Ranges between 0 and 100.
Above 70 is considered overbought.
Below 30 is considered oversold.
Above or below 50 can also be used to determine price trend or support and resistance.
RSI divergence looks at a deviation between RSI and price movement. Penketrading automatically calculates RSI divergences.
Can be used in many different ways

Score

Let's take a look at the Relative Strength Index (RSI) of Hillenbrand Inc. The current rsi is 50.39. The current phase is Continuation in bull market.

The long score for the Relative Strength Index (RSI) is 4/13.
The longshort score for the Relative Strength Index (RSI) is 4/(-13 +13).

Continuation in bull market: Uptrend continues after a consolidation or pullback. Hold or add to existing positions.
Trending up: The RSI is trending up. +1

Measures the speed and change of price movements.

There are four types of indicators:

Trend indicators
Momentum indicators
Volatility indicators
Volume indicators

The RSI measures the magnitude of recent price changes to determine if the asset is overbought or oversold.

Overbought (RSI above 70) means that the trading price is above its intrinsic value. This might indicate a sell or short signal.
Oversold (RSI below 30) means that the trading price is below its intrinsic value. This might indicate a buy or long signal.
RSI levels above or below 50 can also be used to determine a trend.
RSI divergence looks at a deviation between RSI and price movement.
Can be used in many different ways.

Original usage

Keep in mind that almost every indicator can be used in different ways. Even beyond the orginal settings. The relative strength index was developed by J. Welles Wilder. Wilder recommended a smoothing period of 14 days. That means a 14 day moving average (read more about this setting below). Another quote from the wikipedia page:

Wilders also considers the RSI 50 line as both support and resistance. I recommend to always read the original settings first before using an indicator. Many traders and websites are using their own version of the indicator which might be confusing.

How you can use RSI (Divergence)

First and foremost, there is no real right or wrong usage of the RSI indicator. You can use it in any way you want. Wilder recommends using a 14 day average but you can make it 50 or 100 if you like. Just keep in mind that using an indicator is just part of a larger trading plan. In other words, it’s not recommended to do any trading or investing based on a single indicator like the RSI.

The RSI is measured on a scale between 0 and 100. From 30 till 0 is considered oversold. and from 70 -100 is overbought. The RSI is a leading indicator, meaning the signals are instant.

I like to use the RSI as a trend\momentum indicator and not as an overbought or oversold indicator. I use the middle (50) as the baseline. When prices go above RSI 50 the trend is bullish and can indicate long positions. When below 50 it is considered bearish and can indicate short positions. Other traders use the 70 and 30 levels as overbought/oversold depending on the used strategy. The RSI indicator looks like this:

Source: Tradingview.com

The general concensus is that an RSI above 70 indicates that the security is overbought. In other words, the price this security is trading for is to high and should come down. So if RSI hits 70 or above this might indicate a sell signal or taking a short position (expecting the price will go down). Although RSI above 70 indicates the security is trading above it's fair value, that does not mean the price will go down.

Use tradingview to add indicators

I highly recommend using tradingview to add indicators to a chart. It has all the indicators you can think off and can add them for free (up to three indicators) to any chart you want. You can see that the levels 30 and 70 are marked with a dotted line. If you want you can remove these lines or give it another colour using Tradingview. You can also adjust the moving average used. You can also find RSI indicators made by the community that include other settings like RSI divergences.

Tradingview

Use Tradingview to (back)test your strategies and add hundreds of indicators created by the community.

View tool on Tradingview.com

RSI divergence

RSI is not only used to determine momentum but can also spot reversals or continuations of the trend. A reversal means that the trend is going in the opposite direction. From bullish to bearish or from bearish to bullish. These reversals can be spotted by looking at the price and the direction of the RSI. When the price is going up but the RSI is going down that means there is a divergence. This is also the case when RSI goes up but price is going down.

There are four types of divergences:

Regular bullish divergence
Regular bearish divergence
Hidden bullish divergence
Hidden bearish divergence

Regular bullish divergence

With a regular bullish divergence, the price is making lower highs but the oscillator (in this case the RSI) is making higher lows. A regular bullish divergence might indicate the end of the current trend. You’ll see regular bullish divergences mostly at the end of a downtrend. But that does not mean that every regular bullish divergence is a trend reversal.

Price is making lower highs
RSI is making higher lows
Indicating bullish reversal (price might go up)

Source: Tradingview.com

Regular bearish divergence

With a regular bearish divergence the price is making higher highs but the oscillator (in this case the RSI) is making lower highs. This might indicate the end of an uptrend.

Price is making higher highs
RSI is making lower highs
Indicating bearish reversal

Source: Tradingview.com

Hidden bullish divergence

With a hidden bullish divergence, the price is making a higher low while the RSI is making a lower low. This might indicate bullish trend continuation.

Price is making higher lows
RSI is making lower lows
Indicating bullish continuation

Source: Tradingview.com

As you have noticed, you can have multiple divergences in a row.

Hidden bearish divergence

With a hidden bearish divergence, price is making lower highs but RSI is making higher highs. This might indicate bearish trend continuation.

Price is making lower highs
RSI making higher highs
Indicating bearish continuation

Source: Tradingview.com

You can find many cheatsheets of RSI divergences online. Search for "RSI divergence overview" and you'll find a lot of examples. You can print these to learn the various types of divergences.

Hillenbrand Inc Daily Relative Strength Index (RSI) Chart

3.2 Stochastic Oscillator

Compares a certain price to multiple prices ranging over time.

Leading momentum indicator, meaning the signals are instant.
Used to determine overbought and oversold areas much like the RSI.
Ranges between 0 and 100.
Above 80 is considered overbought.
Below 20 is considered oversold.
Consists of two lines named K and D.
K compares the highest high and lowest low on the selected price range.
The D line is a moving average of the K line.
Can be used to spot divergences

Score

Let's take a look at the Stochastic Oscillator of Hillenbrand Inc. The current phase is Correction in bull market.

The long score for the Stochastic Oscillator is 3/6.
The longshort score for the Stochastic Oscillator is 2/(-6 +6).

STOCH < 50: The STOCH %K is below 50. There are more sellers than buyers. -1
STOCH %K line > STOCH %D line: The STOCH %K line is above the STOCH %D line, which indicates a bullish signal in the market. This means that the positive momentum is currently stronger than the average momentum, suggesting that buyers are more active than sellers, and there's a higher probability of the Hillenbrand price going up in the near term. +2
Trending up: The STOCH %K is trending up. +1

Hillenbrand Inc Daily Stochastic Oscillator Chart

3.3 Commodity Channel Index (CCI)

Measures the difference between the current price and the historical average price.

Lagging or leading Momentum indicator
When the CCI is above zero, the price is above the historical average
When the CCI is below zero, the price is below the historical average
Used for spotting trends
- If the CCI moves from negative or near zero to positive 100 that might indicate an uptrend
- If the CCI moves from positive or near zero to negative -100 that might indicate a downtrend

Score

Let's take a look at the Commodity Channel Index (CCI) of Hillenbrand Inc. The current cci is -51.10160366.

Hillenbrand Inc Daily Commodity Channel Index (CCI) Chart

3.4 Chande Momentum Oscillator (CMO)

Measures the difference between the sum of recent gains and the sum of recent losses. Then divides the result by the sum of all price movements in that period.

Lagging momentum indicator
Ranges between +100 and -100
Considered overbought above +50
Considered oversold below -50
It's possible to add a moving average that acts as a signal line

Score

Let's take a look at the Chande Momentum Oscillator (CMO) of Hillenbrand Inc. The current cmo is 2.62653666.

The long score for the Chande Momentum Oscillator (CMO) is 1/1.
The longshort score for the Chande Momentum Oscillator (CMO) is 1/(-1 +1).

CMO > 0: The CMO is above 0, the momentum of the price is positive, indicating a potential uptrend in the price. +1

Hillenbrand Inc Daily Chande Momentum Oscillator (CMO) Chart

3.5 Williams %R

Shows the current price relative to the highest high over the last 14 days.

Lagging momentum indicator
Ranging between 0 and -100
Above -20 is considered overbought
Below -80 is considered oversold
Is prone to give false signals

Score

Let's take a look at the Williams %R of Hillenbrand Inc. The current willr is -55.58583106.

The long score for the Williams %R is 0/1.
The longshort score for the Williams %R is 0/(-1 +1).

WILLR between -80 and -20: The Williams %R is between -80 and -20. This indicates that Hillenbrand is trading in a neutral price range, neither oversold nor overbought, suggesting a balanced market condition without any extreme price signals.

4. Volatility Indicators

4.1 Bollinger Bands

Shows if the price is to high or to low relative to an average.

Lagging volatility indicator
Uses 3 bands: one upper, one lower and one in the middle
Works best when the middle band reflects an intermediate trend (MA20).
When the price is moving closer to the upper band, the market might be overbought
When the price is moving closer to the lower band, the market might be oversold

Score

Let's take a look at the Bollinger Bands of Hillenbrand Inc.

Hillenbrand Inc Daily Bollinger Bands Chart

4.2 Average True Range (ATR)

Measures market volatility

Leading volatility indicator
Can be used to determine stop-loss positions
Calculated by:
- Current high minus the current low
- Current high minus the previous close
- Current low minus the previous close
The larger the range of the candles, the greater the ATR value

Score

Let's take a look at the Average True Range (ATR) of Hillenbrand Inc. The current atr is 1.14912811.

Hillenbrand Inc Daily Average True Range (ATR) Chart

5. Volume Indicators

5.1 On-Balance Volume (OBV)

Measures market volatility

Leading momentum indicator
Calculation:
- If the closing price is above the previous closing price: OBV = previous OBV + current volume
- If the closing price is below the previous closing price: OBV = previous OBV - current volume
- If the closing price is the same as the previous closing price than the OBV is the same.
Can be used to confirm price trends
Can be used with divergences

Score

Let's take a look at the On-Balance Volume (OBV) of Hillenbrand Inc. The current obv is 3,516,391.

Hillenbrand Inc Daily On-Balance Volume (OBV) Chart

5.2 Money Flow Index (MFI)

Measures the flow of money in and out of a security

Lagging momentum indicator
Looks like RSI but uses volume as an extra metric (RSI only considers price)
Above 80 is considered overbought
Below 20 is considered oversold
Can be used with divergences

Score

Let's take a look at the Money Flow Index (MFI) of Hillenbrand Inc. The current mfi is 43.61.

The long score for the Money Flow Index (MFI) is 0/2.
The longshort score for the Money Flow Index (MFI) is -1/(-2 +2).

MFI < 50: -1

Hillenbrand Inc Daily Money Flow Index (MFI) Chart

6. Summary

6.1. Notifications

Type	Notification	Date
Currently no notifications for Hillenbrand Inc.

6.2. Trading Signals

Below you will find trading signals as the indicator is commonly used. This doesn't mean you should use it that way. Learn from these, but don't use them blindly. I recommend using at least 4 indicators, 1 from each category: trend, momentum, volatility and volume.

Date	Indicator	Signal
2023-11-29	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-01	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-04	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2023-12-05	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2023-12-06	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2023-12-08	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2023-12-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-13	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-14	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-15	STOCH	LONG EXIT		The %K line crosses below the %D line.
2023-12-19	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2023-12-20	STOCH	LONG EXIT		The %K line crosses below the %D line.
	MFI	LONG ENTRY	SHORT CLOSE	80 crossover to upside
2023-12-21	MFI	SHORT ENTRY	LONG CLOSE	80 crossover to downside
2023-12-22	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2023-12-28	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-02	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	RSI	SHORT ENTRY	LONG CLOSE	70 crossover to downside
2024-01-03	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-01-04	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2024-01-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-09	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-10	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-11	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-01-12	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-01-17	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-01-19	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-01-22	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-01-24	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-01-25	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-01-30	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-01-31	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-01	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-02-05	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-06	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-07	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
2024-02-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-09	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-12	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
2024-02-13	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-14	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-02-15	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-02-16	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-20	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-02-21	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
2024-02-22	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-02-28	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-02-29	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-01	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-06	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
2024-03-07	BB	SHORT ENTRY	LONG CLOSE	Price closed above the lower band.
2024-03-08	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-14	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-03-15	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-18	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-03-19	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-03-20	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
	WILLR	LONG ENTRY	SHORT CLOSE	-20 crossover to upside
	ATR	LONG ENTRY	SHORT CLOSE	Price closed above (close + ATR).
2024-03-21	MACD	LONG ENTRY	SHORT CLOSE	The MACD line crosses above the signal line.
	SAR	LONG ENTRY	SHORT CLOSE	The price broke the SAR to the upside.
	CCI	LONG ENTRY	SHORT CLOSE	100 crossover to upside
2024-03-22	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-01	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-02	MACD	SHORT ENTRY	LONG CLOSE	The MACD line crosses below the signal line.
	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
2024-04-05	SAR	SHORT ENTRY	LONG CLOSE	The price broke the SAR to the downside
2024-04-08	STOCH	SHORT EXIT		The %K line crosses above the %D line.
	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside
2024-04-09	DMI	LONG ENTRY	SHORT CLOSE	The +DI crossed the -DI to the upside. The trend is reversing to an up trend.
2024-04-10	DMI	SHORT ENTRY	LONG CLOSE	The +DI crossed the -DI to the downside. The trend is reversing to a down trend.
	STOCH	LONG EXIT		The %K line crosses below the %D line.
	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	CMO	SHORT ENTRY	LONG CLOSE	Zero line crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
	ATR	SHORT ENTRY	LONG CLOSE	Price closed below (close - ATR).
2024-04-12	CCI	SHORT ENTRY	LONG CLOSE	-100 crossover to downside
	WILLR	SHORT ENTRY	LONG CLOSE	-80 crossover to downside
2024-04-15	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-17	STOCH	LONG EXIT		The %K line crosses below the %D line.
2024-04-18	STOCH	SHORT EXIT		The %K line crosses above the %D line.
2024-04-19	CMO	LONG ENTRY	SHORT CLOSE	Zero line crossover to upside

6.3. Candlestick Patterns

Date	Candlestick Pattern

6.4. Technical Score

Let's check the technical score of Hillenbrand Inc based on Penke's default Symbol scanner.

Penke's Symbol Scanner

Indicator	Condition		Value
Rsi	Greater than	50	50.390
Ma 20	Greater than	Ma 50	48.406
Ma 50	Greater than	Ma 100	47.822
Ma 100	Greater than	Ma 200	46.090
Open	Greater than	Close	47.100
Total			4/5 (80.0%)

Create your own Symbol Scanner

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Quick analysis of Hillenbrand (30 sec.)

What can you expect buying and holding a share of Hillenbrand? (30 sec.)

How much money do you get?

What is your share worth?

+ What do you gain per year?

For what price can you sell your share?

1. Valuation of Hillenbrand (5 min.)

$48.02

$24.38

$-40.03 - $7.63

$-15.65 - $32.01

2. Growth of Hillenbrand (5 min.)

Is Hillenbrand growing?

How much money is Hillenbrand making?

How much money comes from the company's main activities?

3. Financial Health of Hillenbrand (5 min.)

4. Comparing to competitors in the Specialty Industrial Machinery industry (5 min.)

Industry Rankings (Specialty Industrial Machinery)

What can you expect buying and holding a share of Hillenbrand? (5 min.)

What can you expect buying and holding a share of Hillenbrand?

Speculation

Investing

How much money are you going to get?

When do you get the money?

How sure are you?

Linear %

Fundamentals of Hillenbrand

About Hillenbrand Inc

Financial Health

Valuation

1.1. Profitability of Hillenbrand Inc.

1.1. Profitability

1.1.1. Net Profit Margin

Trends

Compared to industry (Specialty Industrial Machinery)

1.1.2. Return on Assets

Trends

Compared to industry (Specialty Industrial Machinery)

1.1.3. Return on Equity

Trends

Compared to industry (Specialty Industrial Machinery)

1.2. Operating Efficiency of Hillenbrand Inc.

1.2. Operating Efficiency

1.2.1. Operating Margin

Trends

Compared to industry (Specialty Industrial Machinery)

1.2.2. Operating Ratio

Trends

Compared to industry (Specialty Industrial Machinery)

1.3. Liquidity of Hillenbrand Inc.

1.3. Liquidity

1.3.1. Current Ratio

Trends

Compared to industry (Specialty Industrial Machinery)

1.3.2. Quick Ratio

Trends

Compared to industry (Specialty Industrial Machinery)

1.4. Solvency of Hillenbrand Inc.

1.3. Liquidity

1.4.1. Debt to Asset Ratio

Trends

Compared to industry (Specialty Industrial Machinery)

1.4.2. Debt to Equity Ratio

Trends

Compared to industry (Specialty Industrial Machinery)

2. Market Valuation of Hillenbrand Inc

2.1. Earnings Per Share

2.1. Price to Earnings Ratio

Trends

Compared to industry (Specialty Industrial Machinery)

Hillenbrand Inc
Buy, Hold or Sell?